Standard Operating Procedures

Sales Tax

1-Name Structure:

  • STX | [[Contact Name]]

2-Sales Tax Projects :

Monthly Tasks

➡️ Once a Sales Tax Project is created* and moved to “One Offs” Stage:

- A Task will be created and the Project will be moved to "Done"

- And a new task will be created on the 1st of each month and assigned to the CAM to work on the client Sales Tax

*Make sure that "The Services Needed" includes "Sales Tax"

A-Z

➡️ Upon receiving a task notification, indicating the due date for state sales tax filings.

Ensure that all filings are completed before the 20th of the specified month.

➡️ Data Collection and Preparation:

- Access QuickBooks Online (QBO) and download the monthly and quarterly sales tax sheets.

- Upload the downloaded sheets to Canopy for processing.

➡️ Review and Filing:

- Open the Sales Tax Filing Tracker Google Sheet.

- Proceed state by state, cross-referencing data from Canopy with the information on the tracker sheet.

- For states with a zero balance, file a return indicating zero due. (Refer to Loom video for guidance)

- For states with a balance, follow the procedure outlined in the Loom video for filing returns.

➡️ Update Tracker Sheet:

- After filing returns, update the Sales Tax Filing Tracker Google Sheet accordingly.

- Ensure accuracy in recording filing status and any pertinent details.

➡️ Upload Receipts to Canopy Folder:

- Upon completion of filing for all states, upload the receipt of filing and receipt of payment for each state into the designated Canopy folder

➡️ Task Assignment for Check Verification:

- Generate a task for Candace to verify the clearance of checks for states with outstanding balances.

➡️ Task Completion:

- Mark off the assigned task upon completion of all necessary steps in the procedure.

How To ... Videos?