Sage 50 Accounting keeps track of the sales tax charged on sales, and the amount paid on purchases. You must report this information at the end of a month, quarter, or year, depending on your report period. You pay the government if the tax charged on sales is more than the tax you've paid on purchases, or receive a refund when the amount you paid on purchases is greater than the taxes you collect from sales. Sage 50 Accounting summarizes this information in a tax report.
We recommend you back up your data before filling up a sales tax return, so that you have backups of each tax period.