Our GST collected is lower than our GST ITC, yet the Balance owing is shown as the sum of the GST collected and the ITC. I need some help in figuring this out.

Hey cecyoung,

Keeping an eye on how your tax liabilities appear on your balance sheet is a great habit, and goes a long way in helping us address any discrepancies early. Making sure everything lines up is the best way to take full advantage of QuickBooks Online's powerful sales tax centre. This unlocks significant time savings when filing returns, and helps to prevent issues with the CRA. I'll be happy to help you sort this out. 

The tax centre keeps track of all your sales tax transactions in the GST/HST Payable account. This gives you a clear overview displaying exactly how much you can expect to owe, without needing to manually calculate each time. GST collected will increase this liability account, while your ITCs will reduce it. If you expect to receive a GST refund, it's normal for this account to be negative. You can make sure this account is behaving as it should by clicking on the balance sheet amount, then checking to see how sales and expense transactions affect it. Alternatively, the GST/HST Detail report gives a detailed breakdown of your ITCs and taxes payable by line. Check out this great article for some additional troubleshooting options: How to use reports to troubleshoot problems with sales tax amounts

Sorting out sales tax is work best suited for an accountant. You can easily invite your accountant as a user to approach this together. 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. 

Feel free to get in touch if you have any additional questions.