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Cris16
July 9, 2023
Question

What's the correct way to record a CRA payroll penalty in QBO? The amount has been paid and is now showing in the transaction list. I'm unsure how to record this.

  • July 9, 2023
  • 1 reply
  • 0 views
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1 reply

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Amanda-B
July 10, 2023

Hey there Cris16,

 

Thanks for reaching out to us here. Making sure you're recording your transactions properly is an essential step for maintaining clean books. I would be happy to point you in the right direction.

 

To ensure accuracy in your books, I recommend reaching out to an accounting professional for expert advice on creating these types of transactions. They'll be able to guide you in choosing the correct transaction type as well as which accounts to affect so that your accounts can end up with the right balance. You can add your accountant to your books by going to the My Accountant tab of your QuickBooks account. You can also find an accountant that has experience using QuickBooks near you by clicking on the Find a pro to help option in that section.

 

If you have any other questions, feel free to reach out here.

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Cris16Author
August 8, 2023

Thanks. Do you have any suggestions other then reaching out to your accountant? I would like to correct this on my own. 

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Alex M
August 8, 2023

Hi there Cris16,

 

As there isn't a specific method outlined on how to enter this in QuickBooks Online, like an expense, a refund receipt, or an invoice, to know how to enter this in your books, I recommend reaching out to an accounting professional. Their expertise will be able to guide you on the transaction type that would be best to use, as well as help with the choice of which accounts to affect There are accountants and bookkeepers in the Community as well, so there might be an accountant that finds this post and provides a reply, but I would recommend reaching out to your accountant, as they know your books best.

 

If you have any other questions, feel free to reach out here.

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