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casagrande
October 5, 2021
Question

Record HST refund receivable in assets not in HST suspense

  • October 5, 2021
  • 1 reply
  • 0 views
QuickBooks records HST refund receivable as HST suspense. I would rather it showed up on our balance sheet as an asset receivable. How do I make this change? It seems I can't add a current asset account either.

1 reply

T
Trish_T
October 6, 2021

Hi casagrande,

 

Welcome to Community!  I'd be happy to provide some information on HST in QuickBooks Online and your options for making changes to how it's recorded.

 

The Balance Sheet will show the two default accounts, GST/HST Payable and the GST/HST Suspense.  As you've indicated, you'd like to see the HST Refund in an Asset Receivable account as opposed to it currently being in the HST Suspense.  You've also stated you can't create an Asset account in the Chart of Accounts.  I'd recommend reaching out to your Accountant for their professional opinion prior to making any changes with how the HST Refund is recorded, to avoid any complications with how this will reflect in your books.  If you don't have an Accountant, click here.

 

If you have any other questions or concerns, please feel free to reach back out.  We'd be glad to assist!

 

 

 

 

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