Skip to main content
S
sattracker
May 9, 2020
Question

I charge HST for my business. When I buy supplies for my business, do I select Exempt HST, include HST or out-of-scope? Where is the explanation of each of these?

  • May 9, 2020
  • 1 reply
  • 0 views
Original commenter did not share additional details

1 reply

L
LauraAB
May 11, 2020

Hello sattracker,

 

With QuickBooks Online, it's easy to track your sales tax calculations and have confidence in your numbers when it comes time to file with the government. I know it can be a bit tricky to figure out what codes to apply and when, and it's important to me that you're applying the ones you need. I'll point you in the right direction.

 

For these kinds of situations, speaking with an accounting professional is your best option. I know there are many different circumstances for when you would and wouldn't apply sales tax to a transaction depending on your business's needs. Accountants have the training to back them and can properly advise you to make sure your books balance and your transactions are correct.

 

Connecting with an accountant is as easy as using the My Accountant tab in the program. This tab allows you to easily invite an accountant you're already working with as a user to your account or find an accountant if you don't have one just by clicking the Find a pro to help button. Adding an accountant user to your books enhances the ways that they can help you and is a great option for many business owners.

 

For your reference, here's a link that explains sales tax codes you'll find in QuickBooks Online: Common sales tax codes. You can also check out this page from the CRA website to learn more about sales tax in Canada: Overview of charging and collecting sales tax

 

I hope that helps. Feel free to stop by again.

 

[Edited]

S
sattrackerAuthor
May 12, 2020

Thank you for not at all answering my simple question as to how the QuickBooks software works.

 

As for the Accountants and "professionals" listed in your service - I have contacted a few of the referred to "professionals" and none of them have returned calls or emails after multiple attempts to contact.

 

It's also too bad there is no "thumbs down" button.  Biased stats as always.

 

I will simply close my account to this useless service. 

L
LauraAB
May 12, 2020

I appreciate you taking the time to follow up, sattracker. While I'm glad to hear that you already knew about the Find a pro to help feature, I can appreciate how not receiving a response when you've reached out is unhelpful. It's important to me that you're able to get the answers you're seeking and that you make the best decision for your business.

 

I noticed in my initial response that I had missed including links about the explanations of sales tax codes, so I've gone back and added those now if you'd like to check them out. Apart from that, however, I cannot advise you on which to pick when. As a technical support agent, I can absolutely tell you how the sales tax feature in QuickBooks Online works, but from your question, it sounds to me that you're asking about which codes to apply to your transactions, which is a question I cannot answer.

 

If I've missed the mark on what you're asking, let me know. I'm here to help how I can.

Terms & ConditionsAccessibility statement