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Rosemarie 1
January 28, 2022
Question

HST refund used by CRA how do i clear off the accounts receivable journal with the journal for the payment of the difference?

  • January 28, 2022
  • 1 reply
  • 0 views

We had an HST refund, CRA used this to pay part of our Corp Taxes, QuickBooks has the HST refund in AR, when i paid the difference I did a journal entry to take that refund against the corp tax owing account and the payment for the difference to nill out the corp tax owing account, now in my AR I have the HST refund dated the date it was due and the corresponding debit on the date the CRA was paid for the balance, so my AR is nill but I have both debit and credit showing on my report. How do I get these off the report. 

1 reply

N
Nick K
January 28, 2022

Hi Rosemarie 1.

 

Using Journal entries to correct accounts and make entries is one of the ways QuickBooks Enterprise help you keep everything accurate so you can get back to business. I'd be happy to point you in the right direction for this. 

 

When it comes to clearing journal entries that were made to off set other entries I recommend reaching out to your accountant to make sure that they're going to the right account and addressing the correct balances. If you don't have an accountant no worries, we can help. You can find an accountant in your area to help by going to our Find an accountant page.

 

If you have any questions let us know and we'd be happy to help.

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