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February 8, 2020
Question

Is an HST payment to CRA suppose to should up as an Amex payment if I paid it with my chequing bank account through tax filing system?

  • February 8, 2020
  • 1 reply
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1 reply

February 10, 2020

Hello mbtdinc2,

 

It's awesome that you're keeping an eye on your transactions and noticing how they appear. It's a great habit that goes a long way in maintaining consistent and accurate books. Addressing issues with sales tax unlocks the power of QuickBooks Online's sales tax centre, making it easy to track your liabilities and save time on filing returns. I'll be happy to help make sure everything lines up.

 

Payments recorded for a tax filing will reduce you GST/HST Suspense liability account, as well as the selected bank account. You can check these at any time in just a couple simple steps:

  1. Head to the Taxes tab and select Sales Tax.
  2. Select Payments then click on View for the payment in question. 
  3. Make note of the account appearing in the Payment From field near the top.

As long as everything shows up accurately here, this payment was recorded correctly. If you're seeing different information in the Banking tab, keep in mind that certain fields are populated with information that QuickBooks Online estimates based on previous transactions. The fields downloaded directly from your bank are the following:

  • Date
  • Description
  • Spent 
  • Received
  • (For certain institutions) Cheque no.

If you're seeing indications it's an AMEX payment in a different field, select Find match to link it to your HST payment. If you're unsure about anything else, your accountant is your most valuable ally in tackling issues with recording sales tax. You can easily invite your accountant as a user to approach this as a team. To search for a pro in your area, simply head to the My Accountant tab in QuickBooks Online then click on Find a pro to help

 

Don't hesitate to ask anymore questions! I want to make sure everything is perfect, so the tax centre can keep running smoothly.