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C
Corinne Be
February 10, 2021
Question

How do I account for GST paid (ITC's) for reimbursements paid to employees on their payroll?

  • February 10, 2021
  • 1 reply
  • 0 views
I thought I just had to make an adjustment from the Reimbursement account to the Employee Expenses accounts but they don't translate onto the GST/ITC report. We are at year-end and I need to get those ITC credits and would like our report to match what I submit to the CRA.

1 reply

J
JamesM4
February 10, 2021

Hello Bambrough,

 

Making sure you're recording your expenses the right way is a good habit for preventing errors in your books. I'll be happy to steer you in the right direction so you can focus on doing the things you enjoy. 

 

To ensure accuracy in your books, I recommend contacting an accounting professional to get more info on recording the transactions. Doing this will help prevent any future discrepancies in your books. If you're not in contact with one, I encourage you to search for one on our website using this link here. I'll also leave this question open so other community members can share their advice on this. 

 

Feel free to ask other questions in the comments below. I'm here to help. 

C
Corinne BeAuthor
February 10, 2021

I did speak to an accountant and they told me the adjustment to make but he is not familiar with Quickbooks so has no idea how his suggested adjustment will translate into QBO reports only how I can report correctly to the CRA. 

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