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Oona2
September 13, 2020
Question

Recording GST when paying expense through owners investment.

  • September 13, 2020
  • 1 reply
  • 0 views

How do you record the GST paid on a business expense paid with personal funds using the owners investment category. The process negates the tax. Any ideas? Thank you in advance!

1 reply

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Nick K
September 14, 2020

Hi Oona2,

 

QuickBooks Online is great for tracking your GST and making sure your books are correct so you can file the right amount with the government. I can help point you in the right direction for this.

 

To make sure your this entered the right way it's recommended that you reach out to an accountant as they are trained on how to correctly make these entries into your books. If you don't have an accountant don't worry we have your back. You can find an accountant in your area by going to: My Accountant>Find a pro to help.

 

Have a great one!

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