Taxes
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Help with bills tax rate?
I have to post a general journal entry - and break out the hst included in the price. Fuel 86.96 (D)HST 13.04(D)Owners Draw 100.00 (C)But when I post it, I don't see it in the HST collected report. I can't do it in the Enter a bill section, as the payment method is owners draw - I am just filling in for the bookkeeper who is sick, and I was instructed not to change anything. ie adding another payment method)
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I checked each transaction and I find out that GST/HST Summery report is not taking beginning balance and one manual journal for recognized revenue How can I adjust this?
I would like to prepare a NIL return in QBO but have a balance of ITC's. I am planning on holding these ITC's until the next filing period when I have GST collected that I can report as well. Since CRA says I do not have to claim ITC's in the period for which they were paid, I would rather hold them and not claim a refund for the period. How can I prepare the return in QBO to reflect a NIL filing but still have the ITC's show up when I prepare the next return?
When we're sending data through api, we're getting following error response.Business Validation Error: Make sure all your transactions have a GST/HST rate before you save.A business validation error has occurred while processing your request. Please help us to resolve this issue.
Why are the Tax Rate Codes no longer in alphabetical order in QBO? When I add a new customer and need to assign them a tax rate code or need to change a customer's tax rate code I have to scroll the entire list of tax rate codes. They use to be in alphabetical order.
Is corporation tax paid by a corporation an deductible expense? or debit the retain earning? Pls reply to [email address removed] Thanks.
I live in BC and when entering my receipts it doesn't account for the 2 kinds of taxes broken Down
I have 8 years worth of payments to the Ministry of Finance in which PST due was paid by cheque directly out of the PST payables account, with the commission going into "non operating revenues". (So expenses would show $60 to PST payable, -20 to non-op income, and the cheque amount $40.) The "file sales tax" has never been used. I have tried to reverse these a variety of ways without affecting the trial balance for a given year, but something always changes, presumably because if it was done properly the commission wouldn't have gone to non-operating revenue. If I try to do this in the current fiscal year by adjusting out the "unassigned amounts" (the amount on 8 years worth of cheques to the ministry), the unassigned amount doesn't change. How do I get QB to recognized that the unassigned amounts were PST payments? I'm going to have the same problem with GST accounts as well, I think.
On the invoice, it does not denote how the sales tax is created.
One of my employees is having trouble with her Quickbooks. It is Desktop Accountant. After the GST is filed in the sales tax module the amount to be paid doesn't show up in the Pay Bills module. Her only option is to create a cheque for the amount to be paid. Why can't she pay the bill out of the Pay Bills module?
My sales tax wont add to total of invoice
Payment is already deleted
My only option is to pay from my Cash Float, the drop down arrow doesn't show any options to change to my chequing account. This has never happened before.
How would I record a refund from CRA for HST interest and penalties relief? I originally recorded as "record deposit"..received from was Receiver general, account was Finance Charges. The original penalties TO cra was paid as a bill payment to receiver general and account was finance charges. I now realize that HST penalties are non-ded, so I need to create a journal entry to correct this. Accountant wants me to create a journal entry at year end 9/30 as the deposit FROM cra was 10/8, so it needs to go back to the previous year. They are requesting the following journal entry but it is NOT working for me and is causing Receiver General to have a negative balance that I can't clear. Accounts payable - D$1,000Finance Charges - C$1,500Non-Ded IP - D$1,500Non-Ded IP - C$1,000 Should it not be the AR account instead of the AP account since I am receiving the money from CRA? Please help!
We are registered to collect and remit sales tax in Quebec. We've started selling online through a platform (Depop) that collects and remits sales tax on behalf of their sellers. They require the Election by a Principal and Principal's Agent form to show they are remitting taxes on behalf of registered businesses, which seems pretty straightforward. My question is, how do I deal with this in my bookkeeping? We receive the full payment from the customer (Sale + shipping + sales tax) into our Paypal account, then the commission + the sales tax are immediately paid out to Depop (the selling platform) from the Paypal account. For example: Buyer paid $75 + $13 Shipping + 11.44 in HST ON - we receive a deposit of $99.44 in our Paypal account.Depop immediately receives a payment of $8.80 (commission) + the 11.44 sales tax Normally I would just create an expense with the $8.80 commission -- but now where does the $11.44 HST go? Is it considered an expense as well if we
normally there is a drop down menu where gst only or gst+pst can be selected
I recently started using QB book keeping. It's showing for my last trimester (when I wasn't doing book keeping in QB but with an accountant, was just doing my billing in QB) an amount due of let's say 5K my accountant calculated let's say 3K for that trimester to be paid back.My bank transaction of 3K just came in. What do I need to do so that the sales tax for the last trimester shows 3K so that I can match it with my banking transaction?
