Taxes
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These are the instructions from the help section:"The Sales Tax Centre can show you the difference in sales tax owed for cash and accrual methods.Select Taxes.In the Sales Tax Owed table, select your method from the Accounting Basis ▼ drop-down menu to see the difference."I don't have a "Sales Tax Owed" Table, just "Filings" and "Payments."
The combined GST/PST is listed under both tax agencies. Deactivating this rate under Revenu Quebec deactivates the same rate under the BC Ministry of Finance. Assigning this rate to expenses creates input tax GST credits within our Revenu Quebec tax summary but not within the summary for the BC Ministry of Finance. As such, the PST credits are omitted from any tax report. Quickbooks will not allow me to make the GST/HST - QST liability accounts inactive. I'm at a loss here. I really don't want to start a new QBO account.
Invoice templates
I would like to know what will happen if I post directly to the GST/HST payable account? I am entering invoices but the invoice doesn’t specify which item is taxable and which is exempt but rather at the end of the invoice it says Tax 1. It would take a lot of time to figure out which item is taxable or not so in order to balance the invoice I post to the GST/HST payable. Is there a better way? What will happen if I keep recording like this? thank you
I can not for the life of me get the refund interest I received from CRA to reflect on Line 101 of the sales tax filing screen. I recorded it to an income account named "Interest Income" using the "record deposit" screen and it shows up in my profit/loss report. However, the amount does not get added in with my sales on Line 101. From what I gather, the interest received from the CRA must be declared as income so this is important to fix.
When the HST entry was created the HST suspense account was posted but it also added separate amounts for HST re Sales and HST re Purchases. This created a balance in the HST account re: transaction type "Split". What does this split balance refer to?
I have checked tax rates and all appears correct. I am using the online QB version.
The amount "Total Before Sales Tax" is the same at the final amount. I have selected a tax amount for the expense and in the details it outlines the amount of taxes paid but not in the summary for the supplier
We incorrectly charged a customer gst when they were gst exempt. How do I give them a credit and also account for the error so it is accounted for on my next gst tax filing?
My tax setting were originally wrong (accrural instead of cash) so my actual total was wrong. I was able to figure it out moving forward but the amount recorded in quickbooks when i filed was higher so i can't finalize it as "paid" Is there a way to just change that amount?
