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May 13, 2021
Question

I filed my gst return. supposed to get refund. CRA issued a payment for less what was filed and applied the rest to owed old balances(RC & RZ). how do i record this?

  • May 13, 2021
  • 1 reply
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1 reply

May 13, 2021

Hi john naddour,

 

It's great to hear you're taking advantage of the sales tax module in your QuickBooks Online account. This module can save you time that can be spent doing something more fun than taxes. I want to be sure that you're getting the right support for your entry.

 

It's important that you keep your tax records accurate. So, I've included a couple of articles that you can review that goes over recording sale tax payment/refunds and adjustments:

For advice on the specific entries to record this transaction, I suggest you reach out to your accountant. They are the experts in their field and can advise you which accounts you should be posting to. If you don't have an accountant, you can find one familiar with QuickBooks through this link: Find an Accountant.

 

If you have any questions relating to your QuickBooks Online account, reach back out. I'm here to help. Have a great day!