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b-carriere
February 5, 2020
Question

My GST installments don't show up on my GST report for line 106 ITCs. How do I record my GST installments that I direct deposted to CRA?

  • February 5, 2020
  • 3 replies
  • 0 views
Original commenter did not share additional details

3 replies

AndréB12
February 6, 2020

Hey b-carriere,

 

The powerful sales tax tracking features in QuickBooks Online are designed to help you save time, while consistently producing accurate returns. Paying tax instalments is a regular thing for many businesses, and QuickBooks is equipped with the tools necessary to make this easy. Typically, these instalments are shown on line 110 (Instalment and other annual filer payments) of your GST return. I'll be happy to assist you in recording this. 

 

You can record GST instalments in just a few simple steps:

  1. Head to your Taxes tab and select Sales Tax. 
  2. Make sure the correct agency is selected, then click the New button on the right-hand side.
  3. Select Record instalment.
  4. Enter the Instalment amount and a Filing date that falls within the correct filing period.
  5. Click Record Instalment.

This instalment will be posted to line 110 of your return, reducing your tax liability for that period. For additional sales tax help, your accountant is your most valuable ally. You can easily invite yours as a user so you can work together. To find one in your area, simply head to the My Accountant tab in QuickBooks Online then click on Find a pro to help. 

 

I've got your back so reach out anytime you have questions.

gracemah
July 13, 2020

There is an existing balance  in a Sage 50 GST Remitted account.  How would I enter this amount so that it will appear in Line 110 when the GST return is filed?

JamesM
July 13, 2020

Hi gracemah. I appreciate you reaching out to the Community. It' important you're able to enter the existing balance amount so that it appears on Line 110 when GST is filed. In order to enter amount which affect Line 110 you'd have to follow the steps provided above by my colleague. If you'd like expert advice on how to enter the amounts beyond the steps provided above, I suggest contacting your accountant. Doing this helps prevent any future discrepancies on your account. Let me know if you have other questions. I'm here to help steer you in the right direction. 

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