How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Dr. Fiona Chen Your Own Question
Dr. Fiona Chen
Dr. Fiona Chen, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 300
Experience:  Former IRS Revenue Agent
Type Your Tax Question Here...
Dr. Fiona Chen is online now
A new question is answered every 9 seconds

Which chart of accounts do we classify collected sales tax

Customer Question

Which chart of accounts do we classify collected sales tax into from sales transactions?
Submitted: 1 month ago.
Category: Tax
Expert:  Barbara replied 1 month ago.

Welcome to Just Answer. My name is ***** ***** I will be happy to assist you.

Sales tax collected, but not yet paid, is a liability.

The following link contains excellent detailed information regarding sales tax transactions:

Please let me know if I can assist you further. If this information has answered your question, please take a moment to provide me with a 5 start rating at this time.

Thank you and best regards,


Customer: replied 1 month ago.
Is this different than Sales Tax Payable in QBO category options?
Expert:  Dr. Fiona Chen replied 1 month ago.

Dear Customer,

It should be the same. Yes, you can use this payable account.



Related Tax Questions