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R
rossbonfanti
December 5, 2019
Question

Can I edit the HST amount I originally entered?

  • December 5, 2019
  • 1 reply
  • 0 views
My tax setting were originally wrong (accrural instead of cash) so my actual total was wrong. I was able to figure it out moving forward but the amount recorded in quickbooks when i filed was higher so i can't finalize it as "paid" Is there a way to just change that amount?

1 reply

J
JamesM
December 5, 2019

Hi there,

 

QuickBooks Online makes it easy to adjust your HST and I'll be happy to give you a hand with making that happen on your end. 

 

Here's how to adjust your Sales Tax:

  1. Go to Taxes.
  2. Select Sales Tax. (Tip: If you use payroll in QuickBooks Online, you may need to select Sales Tax as opposed to Payroll Tax.)
  3. ​Next to Sales Tax, locate the tax agency associated with the return you'd like to adjust using the ▼ drop-down menu.
  4. Select Returns.
  5. On the line item you wish to adjust, select Prepare return from the Action column.
  6. Select Adjust by the sales tax line you want to change.
  7. Choose an Adjustment date and Tax rate.
  8. Choose an account from the Adjustment account ▼ drop-down menu:
    • If you're making the adjustment because you received credit and you owe less sales tax to the government, choose an income account that you created for this purpose.
    • If you're making the adjustment to include a fine, penalty, or interest on a sales tax return, choose an expense account, such as Interest Expense or Non-deductible Penalties.
  9. Enter the Adjustment amount.
  10. (Optional) Enter a memo to describe the adjustment.
  11. Select Save. 

Give these steps a try and let me know how you make out. I'll be one message away in case you need further assistance. 

 

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