Skip to main content
Evon25
Apr 8, 2021 7:41 AM UTC
Solved

How to enter 100% GST payment in Quickbook online?

I has pay the Shipment import GST but how to record in the Quickbook online and show it in the Taxes Report? t

Catherine_BAnswer
Apr 8, 2021 9:29 AM UTC

Hi AlexV, thanks for the reply, I have tried the method but box 5 will show without the Goods value which IRAS will need to see the taxable amount, or should I enter the Good value instead of 0.01? Appreciate your reply.

 


Hi Evon25, 

 

You can select the tax code the represents all tax types paid and enter the taxable amount of the imported goods. We greatly suggest reaching out to an accountant so they can help you identify the correct amounts and code to be used. 

 

I'll be attaching a few articles on how we handle GST: 

 

Always know that the Community is always ready to help if you have further questions. Take care!

View in thread

10 replies

AlexV
AlexV
Apr 8, 2021 8:03 AM UTC

It's easy to record GST payments in QuickBooks Online, Evon25.

 

Please follow these steps:

  1. Go to the Taxes menu. From the GST Owed list, select and highlight the tax agency you're recording the payment for and select Record payment.
  2. Choose the Bank Account you're making the payment from.
  3. Enter the tax payment amount in the Tax Payment field and other required info.
  4. Select Record Tax Payment.

You can also print a check by selecting the Print a Check box. Then, tap Record Payment and Print Check.

 

I've also added some links you can browse. These will show you more info on how to handle GST concerns in QuickBooks Online:

 

Need more help? I'll be here to assist you.

Evon25Author
Apr 8, 2021 8:09 AM UTC

Hi, Thanks for your response. But the method is recorded paying quarterly GST submission. Now my issue is paying Singapore Custome the import GST base on the import permit, after have to submit the quarter GST submission include this Shipment GST payment, how should I record the transaction? Appreciate your help.

 

 

 

AlexV
AlexV
Apr 8, 2021 8:42 AM UTC

Thanks for the additional info, Evon25.

 

We can create an expense transaction to record the paid GST on imported products. Here's how:

  1. Go to the +New button and select Expense.
  2. Enter the necessary details such as the payment account, date, and payee.
  3. Under Category details, select an expense account related to the imported goods and enter 0.01 in the Amount column.
  4. From the GST column, select the paid GST type.
  5. On the second line, select the same account. Enter -0.01 in the Amount column, then choose “Out of scope” for the tax code.
  6. Edit the GST field below the Subtotal to reflect the amount of tax paid.
  7. Select Save.

Once done, this also reflects on your GST reports. 

 

Additionally, I still suggest seeking some advice from your accountant on how to properly record paid GST on imported goods.

 

If you need to make an adjustment, check this link: Create or delete a GST adjustment.

 

Keep on posting here if you have more concerns. We'll respond as soon as we can!

Terms & ConditionsAccessibility statement