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Apr 6, 2020 1:50 PM UTC
Question

GST paid on an expense that is partially deductible? EG I am entering home-based utility expense for the year, 60% deduction. Do I have to adjust GST paid to that 60%?

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1 reply

Apr 6, 2020 6:25 PM UTC

Hi there,

 

Making sure you're recording your transactions the right way is a good exercise for preventing errors in your books. 

 

I recommend contacting an accounting professional to get more info on this. If you're not in contact with one, I encourage you to search for one on our website using this link here. Doing this will help prevent any future discrepancies. Let me know if you have other questions. I'm here to help.