Taxes
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HiI have my merchandise shipped to USA, I drive there, pick it up and pay the GST at the border on my Credit card.Where do I enter that? Or How do I handle this?Thank you!
Hello, I have a new client that has no previous years' books so I have set up Quickbooks online for this fiscal year. There are two situations I am unsure of how to manage: The client is starting off the year with a credit balance for GST with the CRA. How do I account for this on a brand new set of books in QBO? How do I account for the previous year Q4 payment made in Q1 current year? I am unclear on how to journal this from the current year's bank statement on a fresh year
I don't want to pay tax on tax, please confirm it is subtracted.Thank you
I have a USD invoice that is for 29.95 no taxes listed. I check my CC and the charge is CAD 40.87. How do you enter the taxes?
After converting, ended up with a liability in the account used by desktop and a negative liability in the account used by online. When trying to merge the two through a G/L entry, I ended up with excess GST to pay.
Hi, I would like to use the Discounts field in Quickbooks Online Canada to automatically record my merchat fees in my COGS account to streamline the accounting records. I noticed there is a way to do it in the American version. I tried setting the SaasAnt template column Apply Tax After Discount to FALSE but it didn't work. Did anyone experienced the same issue?
We are using QB Desktop Premiere NonProfit Edition.We are a registered charity in Canada. We collect no GST, and we qualify for a 50% return of all GST paid on our expenses over a fiscal year.When I run the QB's Balance Sheet Detail report for our last fiscal year, under the section:LIABILITIES -> Current Liabilities -> Other Current Liabilities we have an amount of -17,387.14.This amount also seems to be messing with our overall Retained Earnings number.My question is 2-fold:1. How do I properly clear this -17,387.14 amount from Liabilities and Retained Earnings? (I have recorded past GST refund amounts simply as DEPOSITS but can DELETE these transactions if necessary)?2. For any new transactions, can QB's record that we paid 5% GST, but have a credit of 2.5% GST? One note:For the last several years we mistakenly had the following preference configured incorrectly:Edit -> Preferences -> Sales Tax -> Company Preferences -> Do you charge Sales Tax = YES.I have rec
If I go to my Company Profile and want to change my tax settings from "exclusive of tax" to "out of scope" will it affect any prior transactions or just any transactions from the date of the change?
