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while going through my bank statements I noticed that there was a discrepancy between quickbooks and bank statement. My October 2020 bank statement show that the ATO gave me a GST refund. However, quickbook posted it in November 2020.
I tried to edit the date, so I can reconcile my bank statements, but it will not allow me to do this. Can this actually be changed in QuickBooks online or would I need to make a journal entries?
Hi Trevor1511,
Thank you for reaching out on this.
You can change the payment date by deleting and re-entering the payment. The Payments tab in your GST centre displays all BAS/IAS payments or refunds made against lodgements in QuickBooks to date and also enables you to delete the payments or refunds if necessary.
Thank you and please let us know if you require any additional assistance.
Hi IntuitZac,
I have deleted the GST refund transactions, but do I have to re-enter the transaction for the correct date manually and under what account would it come under. As I have not be able to re-enter it through the GST tab.
Hi Trevor1511,
Thank you for your reply.
When you said you are not able to re-enter it through the GST tab, can you tell us a bit more about the experience? Did you have an error message? Can you see the option to Record payment?
Thank you and look forward to hearing from you.
I lodge my July-sept bas statement on 13 October 2020, The ATO forward a refund on the 20 October 2020 which is shown on my bank Statement. Quickbook recorded this as being received on the 4 November 2020 instead of 20 October 2020.
I tried to edit the date of the transaction before deleting it and it would not allow me to change the date of the transactions as a result I deleted the transactions. There is not option that allow me to click record payment.
I believe there is a issue with integrating my account with the ATO so I have had to do a manual lodgement with the ATO.
What I need to know is whether I need to do a journal entry to record the GST Refund and how the enter the informatons accordingly. As I did not have an GST on sales, but GST on purchases I would be helpful for me to know exactly how to enter the refund in the journal.
I have attached a file showing the bas summary statement so that you can see the informations I need to enter into the journal, but I am not sure what figures go into the credit column and the debit column.
Hi Trevor1511,
Thank you for the additional information and the screenshot. So that we could better support you on this, I would suggest contacting our support team for further assistance. It would be beneficial for us to do a SmartLook (Screenshare) session with you and understand the GST integration and payment setup before providing further support.
Please see the link below for contact detail of our support team:
https://help.quickbooks.intuit.com/en_AU/contact
Thank you and please let us know if you require any additional assistance.
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