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July 7, 2020
Question

My company collect and pay the 5% GST, but QBO is calculating the PST and GST how to fix it?

  • July 7, 2020
  • 1 reply
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1 reply

AddieC
July 7, 2020

Hi there, 

 

As a small business owner, you understand the importance of collecting and paying sales tax. Our goal at QuickBooks is to make this process as simple as possible, so you can focus more on doing what you love. If you don't see the correct tax code in your account, I'd be happy to explain how you can set that up in just a few steps. 

Based on your question, it sounds like you're currently using a combined tax code that's PST + GST. If that's not correct and you need to charge GST at 5% on it's own, you can set that up in just a few steps. 

 

The first thing you'll want to do is make sure this tax code isn't already available in your tax centre. Click Taxes > Sales Tax > Manage Sales Tax. This is where you'll be able to review, edit, add, or remove your tax codes. QuickBooks Online automatically sets up a list of common Canadian sales tax codes for you, based on where your company is located.

 

If you don't see the GST 5% tax code, you can add it. Click Add Tax, then follow the prompts. 

 

Now that you've set up your GST at 5%, you'll be able to select it when creating transactions. 

 

I hope this helps you get back on track. For more information about sales tax in QBO, check out this helpful article: Common sales tax codes.

 

Take care.