GST not properly accounted for on Balance Sheet

MHines2022 · ‎April 27, 2022

Hello,

Ok, so I used my personal Credit Card to pay for some business expenses. I followed the YouTube Video below to properly input these as expenses.

https://youtu.be/qZg9JPMuLUc

When I run reports (Balance Sheet, Managers Report) that show these expenses for what they are (i.e. when I was entering the expenses under Category they were things like "equipment Rental", "Subcontractors", etc). its not showing the taxes associated with the expenses (HST) - and as a result the GST/HST Payable line on my balance sheet is significantly higher than it should be (its counting all of the GST I collected from Sales but not the GST I paid for purchases etc). How do I fix this?

Thanks!

JamesM4 · ‎April 27, 2022

Hi MHines2022,

Welcome to the Community. I'll be happy to point you in the right direction so you can get back to doing what you love. QuickBooks is a versatile program that simplifies the way you manage your transactions.

Based on what you've described, I see you benefiting more by contacting our support team outside of the Community. This ensures that your account info remains private and secure. A specialist will also be able to share your screen and help you further with this. Here are our contact details:

Schedule a Callback or start a Chat: click (?)Help in the upper right in QuickBooks Online > type and enter "Contact support" into the QB Assistant > click Contact Us > explain your situation > click Let's Talk > choose Get a callback or Start a Chat.
Social Media: Facebook, Twitter, and Instagram.
Support hours are from Monday to Friday between 9 a.m. and 8 p.m. ET.

Feel free to keep me posted on how you make out. I'll be one message away in case you need anything else.

View solution in original post

JamesM4 · ‎April 27, 2022

Hi MHines2022,

Welcome to the Community. I'll be happy to point you in the right direction so you can get back to doing what you love. QuickBooks is a versatile program that simplifies the way you manage your transactions.

Based on what you've described, I see you benefiting more by contacting our support team outside of the Community. This ensures that your account info remains private and secure. A specialist will also be able to share your screen and help you further with this. Here are our contact details:

Schedule a Callback or start a Chat: click (?)Help in the upper right in QuickBooks Online > type and enter "Contact support" into the QB Assistant > click Contact Us > explain your situation > click Let's Talk > choose Get a callback or Start a Chat.
Social Media: Facebook, Twitter, and Instagram.
Support hours are from Monday to Friday between 9 a.m. and 8 p.m. ET.

Feel free to keep me posted on how you make out. I'll be one message away in case you need anything else.

JamesM4 · ‎April 28, 2022

Bonjour,

Bienvenue dans la Communauté. Je serai heureux de vous orienter dans la bonne direction afin que vous puissiez recommencer à faire ce que vous aimez. QuickBooks est un programme polyvalent qui simplifie la façon dont vous gérez vos transactions.

Sur la base de ce que vous avez décrit, je vois que vous bénéficierez davantage en contactant notre équipe d'assistance en dehors de la Communauté. Cela garantit que les informations de votre compte restent privées et sécurisées. Un spécialiste pourra également partager votre écran et vous aider davantage. Voici nos coordonnées.

N'hésitez pas à me tenir au courant de la façon dont vous vous en sortez. Je serai à un message au cas où vous auriez besoin d'autre chose.

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GST not properly accounted for on Balance Sheet