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May 4, 2020
Question

My client has paid a CRA HST interest payment. What is the best way to record in Quickbooks?

  • May 4, 2020
  • 1 reply
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1 reply

May 4, 2020

Hello again tkrempa71,

 

It's awesome that you're able to connect with and help your client through QuickBooks. I hope that you're both enjoying QuickBooks Online so far, and I'm happy to help you with recording the sales tax interest payment your client made to the CRA.

 

One of the newer features available in QuickBooks Online is actually recording exactly these kinds of transactions. Previously, users might have done it as an expense transaction outside of the sales tax module, but now it can be done from directly within the module, which keeps things even simpler. Here's how.

  1. Select Taxes from the left menu.
  2. On the Sales Tax page, choose Canada Revenue Agency.
  3. Click the New drop-down menu just above the Filings list.
  4. Choose Interest/Penalty.
  5. Fill out the details as needed.
  6. Click Save.

Give that a shot and let me know if you need a hand with anything else. Have a great rest of your day.