QuickBooks Online is designed to give you full control over generating and sending invoice at the same time as well as provide you a comprehensive sales tax tracking.
By default, sales forms must show tax registration numbers to ensure the invoices are consistent with local tax agencies. If you already have it displayed below the sub-total, you can easily remove and change your PST from the top. It can easily be managed in your sales tax center and this guide provides you with easy and simple steps that help you to change PST number in QuickBooks Online with ease.
Understand PST number
Provincial Sales Tax (PST) is a retail sales tax that occurs when a taxable product or service is bought, obtained or brought into B.C, unless a particular exception exists. the PST number consists of 11 characters in the specified format, for example, PST- 1234-5678. The PST usually applies to the lease or purchase of used and new goods in B.C.
Sometimes, changing the PST number is necessary due to some reasons or somebody wants to remove the duplicate registration number and create a new one or change the new PST number. Here is the simple way that helps you to easily do that in QuickBooks Online:
Steps involved to change PST number in QuickBooks Online
The below-mentioned steps are pretty simple and easy. Or it is only an answer to your question: how do I change my PST number in QuickBooks Online. The steps involve:
- Initially, go to Taxes option that you can find on the left
- Next, select “Manage sales tax” in the open Sales Tax window
- Now, select the pencil icon next to the name of the appropriate sales tax agency
- After that, you can edit PST number by entering a new one in the sales tax number field
- At last, hit the Save button.
Instructions for PST return
The tax return is mainly designed to help you calculate and remit Provincial Sales Tax (PST) and provide you with a record of your calculations.
It has three main parts:
- Remittance Form: The top tear-off Remittance Form is where you record the sending in tax figures with your payment. The tax return shall be for tax collected or owed during the reporting period. You can also file your return with your bank and make your payment using the online electronic filing section.
- Worksheet: The middle section of the form is a worksheet area for calculating the figures recorded on the remittance form and providing you a record of your calculations. There is also a PST worksheet to help you register your tax credits and show how they can be used for your return
- Change Notification: You can change the name, address, or business closure by filling out a form that you can find at the bottom of the form.
Penalty and Interest for PST return
- Penalty: It is charged on tax that has not been remitted by the due date. The following are the amounts applied as: Each return period is subject to a penalty of 10% of the tax payable, up to a limit of $500.
- Interest: interest is paid on tax not refunded by the due date. The applied sums are as follows: Prime interest rate plus 3% interest is paid as of the date the tax was due.
These charges, along with other collection measures, are sufficient to ensure the tax is levied postponed by the due date. The penalty and interest amounts are expressed, if any then it reflects on your account balance on the next return.
Certification: When the worksheet has been done, and the figures have been reported on your remittance then it is also required to complete and sign the certification section.
How to contact us?
So, it is possible to change or remove the PST registration number from the forms of QuickBooks online. The above-mentioned steps are easy for how do I change my PST number in QuickBooks Online?
For further inquiries, you can connect with QuickBooks technical support toll-free helpdesk number 1-800-865-4183. As the service is available 24*7, you can contact anytime. The team is more than happy to assist you and provide you the relevant solution for queries or issues. In any case, you are unable to reach out via number then you can also drop an email along with your query at firstname.lastname@example.org or do a live chat with experts.