journal entry with hst

5 replies
8 views

Can anyone tell me why this journal entry shows up in the Vendor's account (Shell) without the HST?

I only see 26.55 in the Vendor account after this journal entry was posted.

QuickBooks Desktop

annaglogowskiAuthor

JamesM4

Level 6

Hi annaglogowski. It's important you're able to view the correct info so you can complete your work with peace of mind. Rest assured, I'll be glad to assist you so you can achieve your QuickBooks goals with ease. Just so we're on the same page, is this the only transaction that's being affected or you have other similar ones?

annaglogowskiAuthor

Hi James... this is the first of many that I need to post. I'm using owner equity (personal funds) used to start the business. I will need to post the rent as well. Please note.. if I post the credit to Equity on the first line and the expense on the second line and the HST payable on purchase on the 3rd line... it will appear correctly in the vendor's account. my understanding is that the debit is always on the first line...

Nick K

Hi annaglogowski.

Allow me to point you in the right direction to get these journal entries created and posted to the right accounts.

When it comes to journal entries we recommend reaching out to your accountant prior to making them to keep everything posting to the correct accounts and showing the right information in them. If you don't have an accountant no worries you can find one in your area by going to our Find an Accountant page.

If you have any questions let us know and we'd be happy to help.

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