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How does sales tax get charged? or rather, how does it get distigushed from the total amount of sale
Obviously I haven't sold any items as my business is primarily service based...and I'm sure if I went ahead and sole some items with sales tax I'd get the crash course, but here I am asking anyway, because I dont feel like learning the hard way.
Obviously sales tax is paid by the customer in a retail sale, and it is paid to me, at which point I will eventually hand said sales tax over to the state when doing business taxes at year end.
How is sales tax distiguished from the amount paid by the customer in the Square dashboard? How does Square help me keep track of sales tax paid from a retail sale?
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To get started, this article is a great introduction to using Square's tax features.
Pretty much you can add applicable taxes to individual items or entire sales. You chose the name of the tax, the percentage, and what items it's applied to.
You also chose whether the tax is included in the price of the item, or if it should be added on to the price of the item.
As for reporting, there is a tax line on the Sales Summary on the dashboard.
Sean
he/him/his
Product Manager | Square, Inc.
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