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chanelsmomma
March 30, 2022
Question

HST

  • March 30, 2022
  • 1 reply
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I have a bill for HST owing in a previous period. I now have an HST refund that shows as an invoice in the current period. How do I apply the refund to the bill?

1 reply

Jen_D
Jen_D
March 30, 2022

Hello there, @chanelsmomma.

 

Allow me to help you further with your tax concern.

 

You can use the bank deposit feature if you want to increase the bank balance fort the refund. A journal entry would also work the same if you want to consider doing so.

 

Next, you can create a new item then add it to the bill as a reduction. Here's how:

 

  1. Go to the Settings ⚙ menu, and then Products and Services.
  2. Select New.
  3. Choose between Non-inventory or Service for the type.
  4. Add description in the Name field.
  5. Set up the amounts and accounts.
  6. Choose an appropriate tax rate so that the reduction is nontaxable.
  7. When you’re done, select Save and close.

 

Once done, add this to the bill as another line item. Make sure to put a negative amount so the total is reduced.

 

I've added a few related links for your reference when working with QuickBooks:

 

 

Comeback here for other feature or general concerns about the program. I'll be more than happy to help you, especially for this invoice topic. Have a nice week ahead!

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