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ContractingA
Oct 27, 2024 11:01 AM UTC
Question

HST Credit held by CRA

We file HST returns monthly and had a credit of 20K last month - 5K they transfered to pay RP arrears and CRA is holding credit in our RT account instead of issuing a cash refund because we are behind in out income tax filing - How do I enter that in QB desktop?  The credit shows in the RT account so when I file Sept HST next week I can manually apply the credit but not sure how to enter ...

1 reply

JamesM4
Oct 28, 2024 1:54 PM UTC

Hello RidgebackArmy, 

 

Glad to have you post in the Community. QuickBooks is a versatile program that helps you to manage your accounting with ease. I'll be happy to share more info so you're on the right track. 

 

Recording your transactions the right way is essential for ensuring your books remain accurate. That said, I recommend consulting an accounting specialist for expert advice. This ensures your entries are recorded in a way that allows for you to navigate the program with peace of mind. You can get in touch with an accounting professional using this link here. Other accounting professionals are able to see this post in the Community and this will allow them to chime in. 

 

Let me know if this info helps.

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