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userfali
May 10, 2023
Question

GST/HST CREDIT

  • May 10, 2023
  • 1 reply
  • 0 views

Hello 

We have 21894.63 credit in our CRA account. We use an online platform called "PLOOTO" for our payables and Tax payment. If you are not familiar with Plooto, you can connect QBO with Plooto. Plooto will download

your payables into Plooto site and you can easily process your payables. OR some technical error Plooto paid 21894.63 HST amount twice to CRA. First HST payment was made from our bank account and second payment plooto paid from its own account. Now Plooto is requesting its own money. I have thoroughly verified QBO Plus Bank transactions and I am certain that second payment Plooto has paid from its own account . 

 

Now, I want to use this credit in the next HST payment . For April we owe 29,031 HST according to QBO record. when I am filling HST in QBO,how do I reduce the balance in QBO HST filling site. And also I want to make sure GL account will show the reduced amount. In QBO tax filling I can click Rebates, Line 111 and can record the credit amount, which reduced the balance accordingly. But GL account does not get change by this rebate adjustment. That wouldn't be right if GL account shows 29031balance and actually you file/pay 7136.66. 

 

Thank You so much

Farzana 

 

 

 

1 reply

T
Trish_T
May 10, 2023

Hi userfali,

 

Thanks for reaching out here.  QuickBooks Online enables you to record your sales tax payments and refunds seamlessly.  I'd be glad to assist!

 

Here's how to record a refund from the CRA;

 

1. Open Taxes from the left menu and then Sales Tax

2. Select the Filings tab and Filed from the All returns drop-down

3. Using the drop-down menu in the Action column select Record refund 
4. Use the ▼ dropdown menu to choose the Refund to account and the Refund date

5. Optional: Use the Memo field to include anything you want to remember about this refund.

Here's a detailed guide, for your reference.

 

If you require additional assistance, please don't hesitate to contact us.  It would be our pleasure to work with you in real time and ensure you're able to successfully record the sales tax refund without delay!

 

Schedule a Callback or start a Chat: click (?) Help in the upper right in QuickBooks Online > enter "Contact support" > hit Contact Us > provide a brief summary of your situation > hit Let's Talk > choose Get a callback or Start a Chat.

Social Media: Facebook, Twitter, and Instagram.

Support hours are from Monday to Friday between 9 a.m. and 8 p.m. ET.

 

Feel free to reach out again, if you have other questions.  We're always happy to help!

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