Taxes

What reports do you print and review for amounts sales purchase itc also to make sure you aren’t missing anything like amounts on sales and purchases

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Hi -I'm required to self-report provincial sales taxes (PST) on purchases of second hand equipment when the seller does not collect it. I have created a supplier called "Second Hand Purchases". Let's say I purchase an item for $100, and enter that as an expense (or bill) to the "Second Hand Purchases" supplier, with an "out of scope" value for the tax. This expense (total $100) will match with the cash withdrawal or electronic transfer from my bank account.I also need to add $7 to a PST liability account; my preference would be the PST liability account that QBO created and uses to record the PST included in regular purchases where the seller charges this PST. If I set the tax rate in the expense to the PST rate, it won't match the bank transaction amount. I've tried adding a journal entry crediting the $7 to the PST liability account, but that requires an account to "debit"- but this is a liability that has yet to be paid! I think I tried adding a bill to the

Filing of Canadian HST return for 2021 resulted in AR balance as of December 31 due to overpayment during the period. The software automatically recorded it under Accounts Receivable. It also appears in the Income Tracker (see the attached screenshot).  I am using QBD Pro. I received the refund in 2022 and accounted for it in Record Deposit window.  The only action available for that row in the tracker is "Print Row". While the AR balance for Receiver General nets out to zero after applying the refund, I am not sure how to clear this entry in the income tracker window.  Any help is appreciated.

I was re-assessed by the CRA and due to some expenses made we are not able to claim I know need to pay back GST/HST  to the CRA.  When i try to to record it in quick books as paying Revenue Canada and the expense being GST/HST Quick books tell me I can not do that as it will adjust my GST/HST account.  How do i record this with out changing my year end GST/HST.

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Hello, I've enabled "Apply Sales Tax" (15% for P.E.I. Canada) to two $1000 items. So, the total tax should be $300 but QB Self Employed keeps showing me $260.87. That's incorrect, no? What am I missing here? Looking forward to the help,T

I had created a GST Receivable account to record the GST (Input Tax Credit) on supplies and other expenses.  But the amount on this GL code is not shown on the GST Summary.  Should I have used an existing account?  If any, what is the account.  Thank you.

For my business, I currently enter GST manually for each transaction but wanted to know if Quickbooks online can do it for us. I am not registered to remit PST, so that portion must go to the expense account and the GST is calculated on the subtotal (before PST).

Tax options set up for for GST/HST variants for Canadian provinces. I can assign the appropriate tax in all bank accounts except on Paypal transactions. How can I assign QC tax to paypal transactions?

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I have two purchases both of which have associated loans and both of which I need to recapture the ITC.  I know how to set up the loan and create cheques to record payment of principal, but I don't know how to record the actual purchase so that it will calculate the ITC that I need to claim.

I have recorded Daily Sales as per the QBO article:https://quickbooks.intuit.com/learn-support/en-us/help-article/sales-receipts/record-total-daily-sales-quickbooks-online/L0rHb69Mh_US_en_USI have enabled TAX (GST @5%) and have the items in my daily sales set as "Inclusive of Tax".When I make my daily Deposit it shows that the 5% GST Tax has beed deducted but it does not post the deducted amount to the GST/HST Payable (Other Current Liabilities) account in the Chart Of Accounts. How do I make the GST show up in the chart of accounts?

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I have filed my quarterly HST return and should now file the next one but the last filed return is not showing. What went wrong?

desktop  hst shows gross sales and nothing else

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Right now I have this:Office expense 139.93 GST 5%Owner's Investment -139.93 Out of Scope 0%However, this is causing a $7 difference in the entry. I have tried putting the difference into the GST payable account but I get an error.How do I record this?

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It's my companies year end and now they are sending me receipts from previous filed GST times that they missed during the year.  I went back and checked that I was using the right code for the manual journal entries that include GST.  Could it be the ITC from posting in previously remitted GST times?  Also, does anyone know why the chat line is down for contacting support during the weekdays?  

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When I invoice my customers, it has the wrong PST amount.