Tax Payable accounts have changed when upgrade to QuickBooks 2002

Legacy KB ID: 446

Question

Why can I no longer see the GST and WET tax liability accounts in QuickBooks 2002?

Answer

Your GST and WET tax liability accounts are consolidated to the Tax Payable parent account in QuickBooks 2002 to improve the accuracy and efficiency of Tax reporting. If you used an earlier version of QuickBooks you may have customised the structure of the Tax accounts, which QuickBooks created by default (see above) to further break down amounts for tracking GST or for tracking PAYG Withholding tax. Before updating your company file you must: * Ensure you are not working with an Accountants Review copy of your company file. * Ensure that all the sub-accounts of the Tax Payable account are either GST or WET related. * If you have any other sub-accounts, which are related to other items, such as PAYG, you need to move them outside the Tax Payable Account. Use the following steps: 1. Display the Chart of Accounts. 2. Move the mouse pointer so that it touches the small diamond in front of the account you want to move. 3. While holding the mouse button down, drag the account up, down, left, or right to its new location 4. Repeat the previous step for any other entries you want to move.

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