Question
How do I input expenses when I need to track GST for remittance, but I don't need to track PST? My expenses often have both GST and PST though.
I've recently started reached the threshold where I need to start collecting GST. I now add GST to my invoices, and want to track GST charged on my expenses. BUT I am not required to remit or track PST (Manitoba).
When I create a new expense and add the total expense cost with the "inclusive of tax" option using GST 5% QB populates GST incorrectly because my expense also included PST in the total cost. If I change it to include GST/PST 13% to get the correct amounts the PST then shows up on my balance sheet as though I'm collecting PST to remit. I don't know what to do, and my accountant wants to charge me a few hundred for this question to be answered, so I thought I would try asking here first.
When I create a new expense and add the total expense cost with the "inclusive of tax" option using GST 5% QB populates GST incorrectly because my expense also included PST in the total cost. If I change it to include GST/PST 13% to get the correct amounts the PST then shows up on my balance sheet as though I'm collecting PST to remit. I don't know what to do, and my accountant wants to charge me a few hundred for this question to be answered, so I thought I would try asking here first.