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L
LTRO
April 4, 2022
Question

Reconciling my HST Account

  • April 4, 2022
  • 1 reply
  • 0 views

One of my accounts are out of balance by the amount of two HST tax (Refunds) returns I received.

I am new to QB and didn't realize I had to reconcile my HST account. One return was for the period July 11- Sept. 30, 2021 (refund received Dec. 2021) the second one was for the period Oct 1 - Dec 31, 2021 (refund received Feb. 2022) 

When I go into reconcile account it will only allow me to reconcile with an end date of Feb 28, 2022. and when I do that I get the following question:

How do you want to pay your bill?

The balance due for this account is $3,545.91. If you want, you can:

I am not sure what to do at this point because this is not a payment it was a refund?

 

Thank you 

LT

 

 

1 reply

J
JamesM4
April 4, 2022

Hi LTRO,

 

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:

Fix issues for accounts you've reconciled in the past in QuickBooks Online

 

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. I've got your back. 

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