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Tammy8811
December 30, 2020
Question

I am looking for some help regarding HST payments. The client paid a lump sum amount for both Corp tax and HST instalment. How can I split this transaction? Thank you.

  • December 30, 2020
  • 1 reply
  • 0 views
So the bank statement shows 1 amount, and if I split this account into "corp tax instalment (it is ok)", but the second amount of HST instalment (into the Receiver General), this number does not go into my GST instalment report and completely messes up my book. I am so frustrated. Please help.

1 reply

J
JamesM
December 30, 2020

Hello Tammy88,

 

Recording your transactions the correct way is a great exercise for preventing errors in your books. I'd be happy to steer you in the right direction with recording your transactions so you can get back to doing what you love. QuickBooks is a user-friendly program which helps you complete your work faster saving you tonnes of time. 

 

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. In the meantime, check out this article which shows you how to: Enter a split transaction into the account history.

 

I'll also leave this question here so other accounting professional members can chime in. Let me know if you have other questions. I'm here to help.

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