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November 14, 2021
Question

GST

  • November 14, 2021
  • 1 reply
  • 0 views

I am trying to post an expense to the personal bank but how do i post the gst to capture it in the tax report

1 reply

November 16, 2021

Hi there Jedjammer,

 

It's important that all your transactions be entered properly so your expense and tax totals are correct. QuickBooks Online is a great tool able to help you keep track of the tax made on purchases as well as collected on sales in order to help calculate the amount owed to the government. I can provide some information about expenses.

 

In order to enter this expense, what you could do is create it as a normal expense, but select your personal bank account from the payment account option. Make sure you select the correct tax code for each line of the expense in order to have it affect the tax report correctly.

 

If you have any other questions, feel free to reach out here.