GST

You can manually record your GST payment by navigating to the Taxes section in QBO, Snafupete1. I'll guide you through the process of zeroing out your GST payable in QBO, ensuring your accounts are accurate and up-to-date.

To access your GST Return, you can log in to your QBO account and go to Taxes to locate the GST return you've recently filed. Once done, you can then select Record Payment.

Afterwards, you can now choose the Payment option under Payment type in the dropdown menu, and enter these payment details below:

1. Bank account
2. Payment date
3. Payment amount
4. Memo (optional)

Once, finished, you can then select Save and review the summary of your payment details, including the date, amount, and account used.

Moreover, you can refer to this page to have detailed information on managing your GST payments, along with the steps on how to record and file them in QBO: File your GST return and record GST payments in QuickBooks Online.

Furthermore, here's an article that you can use if you wish to run reports you can use to troubleshoot your sales tax in QBO: Reports to use for troubleshooting.

Here's to hassle-free GST management, Snafupete1. Please know that you can always revisit this thread if you've further questions concerning your GST sales tax in QBO. We're always here to help.

Thanks. One thing I am uncertain about is how I should record the tax expense. My first instinct is to go back to the invoice for the product purchased and add this GST excise tax to it, but is this really correct since the tax was paid to Canada Border Services and not the supplier?

Yes, you can go back to the bill or expense entry of the imported purchase and select an account in the Category section, @Snafupete1. I'll provide more details below.

Beforehand, set up an expense account specific for tracking the payment of taxes to Canada Border Services.

Here's how:
 

1. Go to the Transactions menu and select Chart of accounts.
2. Click New and add the Account name with your preference.
3. From the Account type, select Expenses.
4. Choose Shipping, Freight, Delivery as the Detail type.
5. For the Default tax, choose the GST/PST applicable to you.
6. You can also add a Description if needed.
7. Select Save.
   

Once done, go back to the bill or expense entry of the imported purchase and select the newly created expense account in the Category section. Then, exempt tax codes since you're targeting the tax code accounts already using the expense account.

I recommend consulting an accountant to ensure your books are accurate since we offer only general guidance. If you don’t have one, visit our ProAdvisor page to find trained accountants and bookkeepers skilled in managing financial complexities and providing business solutions.

Additionally, for future reference on reconciling accounts to match your records with your bank or credit card statements and prevent discrepancies, you can check out this article: Reconcile an account in QuickBooks Online.

Whenever you have additional questions about taxes and other queries in QuickBooks, the Community space is ready to help. I'm eager to see your business thrive and grow.