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bettyhughes
December 14, 2024
Question

How do I categorize non-HST related advances in and out of a corporation

  • December 14, 2024
  • 1 reply
  • 0 views

Everytime I categorize money going in or out of a corporation that is not a sale or expense, it still requires me to indicate that it is exempt or zero-rated from a sales or purchase perspective.  Is there any fix for this?

1 reply

T
Trish_T
December 16, 2024

Hi bettyhughes,

 

It's essential to ensure your transactions are categorized accurately,  while keeping aligned with government guidelines.  If you're not sure which category to select, for non-HST related advances for your corporation,  I recommend speaking with an accounting professional for their expertise and best course of action. If you don't have an accountant, we can help you locate a ProAdvisor in your local area.

 

Feel free to reach out again, if you have any other questions. We would be glad to help!

B
bettyhughesAuthor
December 16, 2024

All I know is that the transaction has no HST component.  I need to know how to deal with these transactions in Quickbooks. 

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