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Bookeeping101
February 17, 2020
Solved

How can I send a Banking Entry to GST Account?

  • February 17, 2020
  • 1 reply
  • 0 views

I have a withdraw that was 100% GST (cheque was previously written without GST and then needed to be sent separately).  I can't code it to the GST account directly.  How do I get around this?

Best answer by AndréB12

Hey Bookeeping101,

 

I'm happy to hear this option works for you! Part of the beauty of using this option is how well it works with the other functions in QuickBooks Online. As long as the correct amount is entered, and the right bank account is selected, you should have no problem matching the bank transaction once you've manually created it in QuickBooks. This is completely optional, but it's great for making sure everything lines up for your reconciliation. 

 

Let me know if there's anything else I can help you with!

1 reply

L
LauraAB
February 17, 2020

Hello Bookeeping101,

 

Welcome back! I'm happy to help you get this sorted out as I know it can be tricky to figure out how to record a transaction that's only got a sales tax charge since there isn't a feature or button currently available to do so. Don't worry, the steps are easy to follow and I can show you how to find them.

 

I'll leave with you this article that goes over the steps so you can bookmark it for future use: How to record a sales tax expense on imported goods Even if your situation isn't for imported goods specifically, the process outlined here allows you to record a sales-tax-only transaction in your books.

 

Try it out and see if it fits your needs. I'm here to help if you have further questions.

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Bookeeping101Author
February 19, 2020

Great, thank you.  So if I do this manual recording of the expense, I would then just exclude the banking entry?

 

Thanks,

A
AndréB12Answer
February 19, 2020

Hey Bookeeping101,

 

I'm happy to hear this option works for you! Part of the beauty of using this option is how well it works with the other functions in QuickBooks Online. As long as the correct amount is entered, and the right bank account is selected, you should have no problem matching the bank transaction once you've manually created it in QuickBooks. This is completely optional, but it's great for making sure everything lines up for your reconciliation. 

 

Let me know if there's anything else I can help you with!

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