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CrownCornice
March 20, 2024
Question

HST credit used to pay payroll balance on re-assessment

  • March 20, 2024
  • 1 reply
  • 0 views

My HST for last quarter was a credit of $131.66CR but upon re-assessment an amount of $51.42 was transferred to my payroll account, adjusting the credit to $80.24.  The adjustment was made on the day I paid the payroll balance of $51.42. 

I normally use the customer payment window to receive the credit via a Rec. Gen. - Receivable account but the credit is lower than the amount listed.  How do I adjust this in QB Desktop?

1 reply

J
JamesM4
March 20, 2024

Hello CrownCornice,

 

Welcome to the Community. QuickBooks is a powerful program that helps you to manage your accounting with ease. I'll be glad to share more info so you're on the right track with your work. 

 

Recording your transactions the right way is essential for ensuring your books remain accurate. That said, I recommend consulting an accounting specialist for expert advice. This ensures your entries are recorded in a way that allows for you to navigate the program with peace of mind. You can get in touch with an accounting professional using this link here. Other accounting professionals are able to see this post in the Community and this will allow them to chime in. 

 

Let me know if this info helps. I'm here to steer you in the right direction.

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