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April 9, 2022
Question

Journal Entry for sale of business vehicle including remitting GST?

  • April 9, 2022
  • 1 reply
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I would like to know how to enter the journal entry for the sale of a fully paid-off business vehicle and account for the GST that must be remitted?

1 reply

April 11, 2022

Hi Lori87, 

 

I appreciate you connecting with us in the Community. QuickBooks Online is a hassle-free program that simplifies the way you manage your accounting. I'll be glad to point you in the right direction so you can achieve your QuickBooks goals. Recording your transactions the right way is a good exercise for keeping your books accurate.

 

To ensure accuracy in your books, I highly recommend getting in touch with an accounting professional to get expert advice. Doing this will help prevent any future discrepancies in your books. You can also reach out to accounting professionals on our site using this link here. In the meantime, check out this helpful article with more info on how to: Create a journal entry in QuickBooks Online.

 

I'll  leave this question here so other accounting professional members can chime in and share their expert advice. Let me know if you have other questions, I'm here to assist.