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October 25, 2022
Question

My client bank feed shows client has remitted GSTT/HST to the government. *How do I categorize this transaction in review tab under banking section* Thanks.

  • October 25, 2022
  • 2 replies
  • 0 views
What chart of accounts to use to record it

2 replies

October 25, 2022

Hi irfan1234,

 

Welcome to Community!  QuickBooks Online enables you to file your sales tax return and record payments seamlessly.  However, when it comes to categorizing the transaction it's best to reach out to your accountant for their expertise and best course of action.  If you don't have an accountant, we can help you locate a ProAdvisor in your local area.

 

Please feel free to reach back out with other questions.  We'd be happy to help!

November 16, 2022

In order to properly record the GST/HST payment you will need to determine if the HST was filed in QBO using the modoule.  If that is done correctly, then you will need to debit the GST/HST suspense account.  

 

If you are not using the HST module, you will need to enter the information from the HST return.  I would get assistance with this as it is not just a straight debit and credit entry.