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Level 1

Adjusting HST on an invoice from previous year

A previous bookkeeper posted some payments via a sales receipt. No tax was recorded on these receipts, and they were recorded and paid in a previous year.

 

What is the best way to adjust these receipts, so that tax gets added, and what posting date do I use. I should add that the correct amount was collected. We just need to adjust the sales and tax amounts. 

3 Comments
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QuickBooks Team

Adjusting HST on an invoice from previous year

Hi JoanneH1,

 

Making sure taxes are entered correctly and to the right account is the best way to know what you need to file for your sales taxes. I can help point you in the right direction to get this resolved.

 

When it comes to what account to enter your sales taxes information and how to correct the previous years entries, I'd recommend reaching out to your accountant as they are trained in how to make these corrections. If you don't have an accountant, we have you covered. You can go to our find an accountant page to find one in your area to help assist.

 

Have a great day!

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Level 1

Adjusting HST on an invoice from previous year

Thank you. That is my next step, but thought I would try this format first. 

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QuickBooks Team

Adjusting HST on an invoice from previous year

Not a problem, JoanneH1! It never hurts to check in with the Community to see if anyone has some insight that can help you. Feel free to stop by again with more questions if you have them. I hope you enjoy your weekend. :)