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A
ap-applicantz
July 21, 2023
Question

GST/HST Filing

  • July 21, 2023
  • 1 reply
  • 0 views

We filed GST/HST return for May 2023 in Canada as per QB. QB over calculated GST / HST on some Invoices and we ended up making over payment to CRA. QB has now created an GST Exception report and adjusted this amount in June 2023. Does anyone know why QB has messed up on GST and then prepared the GST Exception report. We didn't change any taxes in the Invoices.

 

The amount of GST collected in Line 103 for June 2023 has been reduced by QB to adjust the overpayment made in May 2023. We can file this report for June 2023 and adjust the overpayment made in May 2023 but how do we notify CRA for the reason and the details of the error in May 2023 and the adjustment in June 2023. We will appreciate if anyone can help us with this filing and adjustments. Thanks in Advance. 

1 reply

A
Alex M
July 21, 2023

Hi there ap-applicantz-,

 

It's vital that all your taxes are set up properly so that the total to be filed to the government can be accurate. QuickBooks Online is a great tool able to help you keep track of sales and expenses so you know the profit of your company. I can provide some information about tax exceptions.

There are three causes for exceptions for an exception to appear:

 

  1. One or more transactions affecting a previous tax period have been added after the fact that this period was marked as filed
  2. One or more transactions from a previously filed period have been deleted after the period was marked as filed
  3. One or more transactions from a previously filed period have been modified after the period was filed

The exception is an amount affecting the current tax period to account for the previous tax period. To know the process you'd need to use to refile your taxes and if that is necessary, as well as to know if you should be making changes to these exceptions, I recommend speaking to your accountant. They'll be able t provide the best steps to make sure everything affects your books as well as the steps to refile. You can invite your accountant to your QuickBooks account by going to the My Accountant tab. You can also find an accounting professional near you that has experience using QuickBooks by clicking on the Find a pro to help option to help you in this section.

 

If you have any further questions, please feel free to ask them here.

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