Setting an Opening Balance for Sales Tax (GST)

Vitality_Collective1Vitality_Collective1 Member Posts: 2

Hi there,

I am looking for help in adjusting our Sales Tax account in Wave. We switched from Quickbooks at the end of 2020, and started calculating GST on our purchases and sales. How can I adjust my current Sales Tax account to reflect the information prior to the switch?

Thank you

Comments

  • JulianPJulianP Administrator Posts: 904 admin

    Hey @Vitality_Collective1 !

    If you are looking to enter a starting balance for a liability account like sales tax, you can follow the workflow outlined here under the "To enter a starting balance for non-payment accounts, like assets and liabilities" header. I hope this helps!

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