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April 28, 2021
Question

Why lease fee reduce the sale income on line 101 on GST summary report?

  • April 28, 2021
  • 1 reply
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1 reply

April 28, 2021

Hello Zhaoja1, 

 

Welcome back to the Community. It's important you know why the lease fee is reducing the sale income on line 101 of your GST summary report. QuickBooks offers an easy-to-navigate platform that makes it simple to manage your books. Line 101 of your GST summary report includes all sales transactions with the tax codes; Exempt or Zero-Rated

 

Based on what you've described, I recommend checking to see the transactions that make up line 101 on your report. This helps you determine why some transactions are appearing on the report and you can have a better view of what's happening on that line. Here's how to view the transactions that make up line 101:

 

  1. Select Taxes from the menu on the left and click Sales Tax at the top.
  2. Go to the Action column on the right and click the black drop-down arrow next to Prepare return.
  3. Select View summary.
  4. Click the amount under the Total column for Line 101 Sales and other revenue. This will pull a detail report of all the transactions that make up line 101 on the return.

I encourage you to try this out and if you have additional questions, don't hesitate to reach back to me in the comments below. I've got your back.