Hello, now I have to pay 4 installments a year. Q1,2,3,4: 1100 Q1 will be on April, when I go to Taxes, I see I have collected: 1250 in GST. I need to pay only 1100.
Tax instalments are a regular transaction for many businesses, and recording them accurately is the key to unlocking the power of the tax centre. QuickBooks Online makes it easy to keep track of all things sales tax, so you can be confident you'll always be equipped to file accurately. Adding instalments can be done at any time, and the system will include the amounts on your next filing. I'll be happy to help you with this.
Even if you haven't filed your taxes yet, it's just a few easy steps to record an instalment:
Head to your Taxes tab and select Sales Tax.
Make sure the correct agency is selected, then click the New button on the right-hand side.
Select Record instalment.
Enter the Instalment amount and a Filing date that falls within the correct filing period.
Click Record Instalment.
For most provinces, amounts recorded here will be posted to line 110 of your next filing.
Feel free to reach out if you have any additional questions.