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K
kndzpntnr
December 14, 2022
Question

PST tax

  • December 14, 2022
  • 1 reply
  • 0 views

Hi! So I saw our external accountants reconciling transactions which are not accurate. For example, the invoice only has GST on it but in QBO, this specific transaction has both GST and PST on it. And it was already reconciled. How can this affect the reconciliation and also the tax filing if I change the transaction to having the correct taxes?

1 reply

J
JamesM4
December 14, 2022

Hi there,

 

Welcome to the Community. Reconciliation can be a lengthy process and I'm glad you're using QuickBooks to help streamline this process. QuickBooks is designed to help you save time so you can do the things that you enjoy the most. I'll be glad to share more information about reconciling your accounts. 

 

Based on what you've shared, I highly recommend getting in touch with an accounting professional for expert advice on how to handle the transactions. If you're not in contact with a professional, don't worry, you can search for one using this link here. Otherwise, I recommend you to check out these helpful resources with more info about reconciling in QuickBooks:

 

 

I encourage you to go through the articles above as they provide helpful information which will help you complete your reconciliation with ease. If you have questions, don't hesitate to reach back to me here. Otherwise, I wish you a great rest of the week!

K
kndzpntnrAuthor
December 14, 2022

I just want to know what would happen if proper taxes are not accurately inputted in a transaction. 

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