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Maz51
December 21, 2019
Question

How do I enter a PST refund deposit?

  • December 21, 2019
  • 1 reply
  • 0 views

How can I enter a refund cheque I deposited from the Minister of Finance (BC) in Quickbooks Premier Desktop 2019? I have received one cheque for an overpayment (amount paid was more than amount calculated on the QB File Sales Tax return) and another when the Min of Fin decided to allow a commission wasn't able to get when filing and paying a day late. Minister of Finance (BC) is listed only as a vendor and I can't post directly to the PST Payable liability account.

1 reply

L
LauraAB
December 23, 2019

Hello Maz51,

 

It's great to have you join us in the QuickBooks community! I hope your week is off to a good start. I'll point you in the right direction for finding more information about how to record these refunds.

 

Since you have two types of returns here, there are going to be a few steps to take. First, I'll go over how to enter the refund from the sales tax agency for the overpayment made.

 

In this case, you'll want to set up the sales tax agency as a customer in your company file. Note that the name of the customer will need to be slightly different, even if it's only adding a period to the end of it, in order for the program to accept it. Simply select Customers from the top menu, Customer Centre, then New Customer & Job in the top left of that window.

 

Once the tax agency is set up as a customer, record the refund as a deposit through the Record Deposits option on the Home screen. This can also be accessed from the Banking menu, where it's called Make Deposits. Once you've done that, you will have successfully recorded the refund.

 

As for the commission refund, I recommend pulling up the in-product help article about that to see and go through the steps. Here's how.

 

  1. Select Help from the top menu and choose QuickBooks Desktop Help. (Note: A shortcut for this is F1 on your keyboard.)
  2. On the Have a Question? window, choose the Help tab.
  3. Click the Search button.
  4. Type keywords such as "sales tax refund" into the search bar and hit enter.
  5. Click the article titled Record PST refund for commission.

That'll get you on your way. If you need a hand with any of this, feel free to get in touch with our support team for assistance. Learn more about support hours, contact details, and policies here: Intuit Quickbooks Desktop software support policies

 

All the best to you!

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