Taxes
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I have an HST Insyalment on my Balance Sheet, where did it come from? How do I get rid of it
Hello, I recently started a registered massage clinic and hire number of subcontractors at the clinic (revenue is split based on %). Assuming we get $100 (incl. HST) for a massage session, the clinic takes $30 and RMT subcontractor will take $70 (RMT subcontractor will have their own HST account). How should i record this on quickbooks online properly? (esp to ensure I keep the right amount of HST). Thank you.
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When I do my Invoice for a 5-day work week and calculate HST on the Subtotal, QB gets $282.50 when it should be $282.49. They calculate by line (rounding up). Which in my estimation is incorrect.
Hi all, Is there a way to attach a PDF to a Sales Tax installment payment? Working within the TAXES section I can't seem to find that option. Thanks
HelloI am a bit confused. I invoiced a customer, with in the invoice we gave them a $275 credit/refund. The refund was tagged as HST exempt, all other items has HST on them. The HST was calculated with this amount thus making the HST amount higher then it should have been.
Hi, How can I make a tax that was "non-taxable" that should have been marked "taxable" and has about 1500 transactions on it already? Thanks,
We are a Canadian charitable organization that operates a bookstore so we have taxable sales, but not all of our revenue is taxable.
I have a two fold question that I hope someone can walk me through the steps to fix this? First I want to say I have been a Simply Acctg/Sage gal for many years, so I am struggling a bit getting used to QB'S. I have just recently started using QB Desktop Pro 2018. Firstly, I thought I had setup GST/ITC accounts correctly, apparently not. Our first annual GST remittance was due in March this year and knowing better should have checked the Sales Tax Report first against the B/S, but I pulled the numbers from the B/S from Oct -Dec (when GST started) and submitted the GST remittance online banking/CRA. After looking at the Sales Tax Report where I still need to file the return in QB's I saw the first mistake. I had in error used the GST account code instead of the ITC account code on a purchase from the pull down account choices when booking the purchase, so the GST on the B/S was understated by $47.62 and the ITC understated by $47.62. The correct amo
The calculation QBO is advising to pay for WSIB does not match the calculation put into the epremium wsib website.... There is about a 300$ difference? Also can anyone confirm where I find my gross insurable earnings for the last quarter? I am pretty sure I have it but I would like to confirm as this may be my issue?
QuickBooks records HST refund receivable as HST suspense. I would rather it showed up on our balance sheet as an asset receivable. How do I make this change? It seems I can't add a current asset account either.
I filed this quarter's sales taxes only in quickbooks but noticed i miss a large invoice. Need to input invoice than file.
Since GST is calculated automatically on a transaction I don't know how to include it as GST only without being attached to a payment. Thanks for any help?
I switched from expense account to COGS for items I buy then use on job site.
With the pandemic, I got very behind in my tax filings last year. I did not have time to get my books in order, so I pre-paid the CRA and was assessed for my Q2 and Q3 HST returns. I will return and complete my filings once my books are in order. I had time this month to work on things and since Q4 HST is now due, I decided to file this one first to avoid penalties, and then will return to file Q2 and Q3 after. I can't seem to find a way in QBO to record a filing for any period except the next unfiled one -- Q2 in my case, since I was all filed up until Q1 only. I am able to generate the report for Q4 just fine and should be able to record installment payments, but cannot record that the actual filing has happened. I'm concerned that if I go back and file my Q2 and Q3 (in order), I might come back and find that when I am able to record the Q4 filing, the numbers will differ slightly from what I actually sent to the CRA. I have saved a copy of the Q4 report as of today, so I should be a
How to setup GST
I guess this is a bit of a 2 parter question. I am a new business owner (sole proprietor) and new to bookkeeping/QBO. I take a 50% deposit from customers which goes towards the purchase of supplies for their project. When I do this, I create an invoice and enter the amount received in the deposit box on the invoice. I then send the customer this invoice with a note saying to disregard the review and pay option and I will resend the invoice upon completion of their job. I will set the invoice due date to the expected date of project completion so it does not show as overdue. QBO does not have a great system for deposits and I wish this was different - but I am open to alternative options/suggestions! I have just recently started doing it this way and as I am coming up to the end of this quarter - I realized that it is recording my taxes owning to include all those I have taken deposits on since I have them as open invoices (taxes ow
Even when I select tax exempt ( on the GST payment) it will not let me credit it to the GST payable account. Anyone else have this problem?
