Taxes
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Up until Mid-October we weren't charging/collecting GST because we have never sold more than $30K in revenue but we have recently passed it and we now need to apply GST to all of our past sales and expenses.Is there an easy way to do this that doesn't involve clicking on each individual transaction and adding GST to it?
Which line we should post wage subsidy at T2 general S#125
In May I registered for a GST account with CRA as I met the threshold for the first time. I believe I can claim ITC for my existing inventory of saleable items at the time of registration. All of my inventory is wooden items I have made. Obviously I know the retail price I put on those items, but I do not know the cost of materials used to make them. If allowed, how do I claim ITC for these?
I am new in quickbooks, doing quarterly GST return in excel and totalling all necessary amount in excel instead of entering one by one in quickbooks, just wondering if there is a way I can enter the total amounts that I have and enter them in quickbooks to get the GST return amount for CRA payments to make it more acurate and generating some reports like income statements.Thank
I hope someone can help me out here. We are annual HST filers and send in monthly installments. I goofed and "filed"my HST in March 2020 (which covers Oct 2019 to March 2020) in QB but just sent in what it said I owed. So I did not file with the CRA, it just looks like another installment to them. Now at our year end, which is Sept, I need to file and my numbers seem all wrong because of filing in March. This may be quite simple to rectify but I'm just so flustered because the CRA called me. My installment numbers do not match what they have. QB closes everything from the date you file. What reports can I run to get the accurate line items on the return - for the whole year (Oct 2019 - Sept 2020) Line 101 Sales and Revenue, Line 105 Total HST and adjustments for period, Line 108 Total ITCs etc? Thanks for any help.
The truck is used mainly for business with some personal use.
I have GST on Sales and GST on Purchases in my items list. All seems to be well when I use my GST on Purchases code, but when I try to use my GST on Sales code I am told that I cannot because it does not have a GL account associated with it. When I look at my items list all the items have a GL account associated...except my GST on Sale
I am trying to file GST returns for 2019 and 2020. There are unassigned sales tax amounts showing for 2019. How do I clear them off from previous year. All answers I have seen are for current quarter. Thanks
Hi, I work in Quebec and need to put QST taxes instead of HST but I see no options wherever in QB Online so I can change that. I have added all required taxes numbers and in the Taxes section and it shows "Revenu Quebec" but when creating a template, it only gives me HST and no way to change it. Which is wrong for me. If anyone could help, Thank you.
This past year we canceled our HST registration. I believe this means I need to turn the sales tax function off, but I want to make sure this won't change our prior year's reporting. Is there a way to set an effective date, or how do I do this? Thanks!
