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My company is incorporated. I paid for the new car with the debt transation, and then recorded the transaction as a assesst transfer. I can not claim the car purchase an expense. How do I record the HST payment for the transaction in the Quickbookonline?
Thank you for your help.
Hello Bamblett,
Welcome to the Community. QuickBooks is a powerful program that helps you manage your work with peace of mind. I'll be glad to share more info so you're on the right track with your work.
Recording your transactions properly is an essential step for maintaining clean books. To ensure accuracy in your books, I recommend reaching out to an accounting professional for expert advice on this. If you're not in contact with a professional, don't worry, you can search for one using this link here. Otherwise, feel free to check out this article here with more info on how to: Categorize and match online bank transactions in QuickBooks Online.
Feel free to keep us posted on how you make out. I'll be one message away.
If you cannot claim the expenses for the vehicle then you cannot claim the HST. No HST is to be claimed on non business expenses
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