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BradGrove
July 2, 2020
Question

Connect a recorded GST refund to a bank deposit.

  • July 2, 2020
  • 1 reply
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I have created a GST refund as described throughout this site using a Journal Entry. My issue now is connecting that refund to a particular bank account. In the Journal Entry, I debited the refund into the ATO Clearing Account. This doesn't record the refund into the bank account though.

1 reply

Rebecca_A Product Champion
Rebecca_A Product Champion
July 2, 2020

Hi BradGrove, 

 

The next steps will depend on a few factors: 

1. Are you lodging BAS through the GST Centre? If you record the refund in the GST centre it will create the Journal for you. 
The system will move the transactions through the ATO clearing account and into the correct accounts for you. 

2. If you are not using the GST centre to record your BAS and are manually entering the details you may need to enter another transaction the move the refund from the ATO clearing account into the bank account. 
Please see here  for more information on how QuickBooks records the BAS journal. 

If you are still unsure on the best course of action please reach out to your Accountant or one of our ProAdvisors

-Rebecca 

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