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M
mkeegans
January 31, 2023
Question

Our broker invoices GST.Example:bill is1767.54 GST is 1617.54 need to be able to capture GST and have it show on qrtly HST report. we know the amt is an ITC

  • January 31, 2023
  • 1 reply
  • 0 views
Broker invoices us for CRA value of goods with the 5% GST calculated.  We then pay a customs release fee.  How do we post this on our supplier account(the broker) when the GST represents 90% of invoice value.  Example Broker invoice shows GST 1607.97.  We then have an additional item "release fee" of $150 and a GST amount of 7.50 associated with this.  We want to make sure when this is posted that the amounts show up on our GST Detail report prior to doing our quarterly reports.

1 reply

T
Trish_T
January 31, 2023

Hi mkeegans,

 

Thanks for reaching out here.  It's important that you're able to record your transactions with confidence, in QuickBooks Online.  In this situation, I suggest speaking with an accounting professional.  They'll be able to provide the best course of action for a positive outcome on your books.  If you don't have an accountant, we can help you locate a ProAdvisor in your local area. 

 

Feel free to reach back out with any other questions.  We'd be happy to help!

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