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An employee had a car accident in a company vehicle. Our deductible was $1000 and the insurance company covered the rest of the damage. But we had to pay the HST on the insurance company's share. The total HST we paid to the collision centre was more than our deductible. My question is how do I enter that in QB? Do I set it up as a Credit Card purchase for the whole amount (deductible $1000 plus all the HST we had to pay $1360.46)? Then put the $1000 in the truck maintenance account and change the Total Taxes to $1360.46? Or do I post directly to the HST payable account?
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