In BC, Canada we have a provincial tax rate of 7% on goods and some services. For lodging we have 8% provincial tax. I want to set up both taxes to go to the same agency payable account but can't seem to find a way to do it. Is there a way to do this?
Thanks so much Shiella! I was actually able to figure it out and see that from your advice I did it right!! One other question if I may? I've just taken on a new client who has already made some entries and is using the accrual method of accounting. She has not yet filed her GST in quickbooks online and when I try to file a return and chose "all dates" the amount owing is different from what's sitting in the GST payable account. When I pull up a GST summary report the same thing happens unless I switch to accrual accounting. Her company settings indicate that she's using accrual so I'm wondering why the GST report would indicate cash? And how can I change it so that when I file GST I get the right figure? Many thanks,
The accounting method that was set for the company should also be the same with your reports automatically. Since you’re not getting this in your end, I’d recommend reopening QuickBooks on a private window. This is to check if your browser has something to do with it. Here’s how to start:
• For Chrome, press Ctrl + Shift + N. • For Internet Explorer or Firefox, press Ctrl + Shift + P. • For Safari, hold down Command + Shift + N.
Also, you can clear your browser’s cache or use a different one, specially if everything works fine on the private window. This is because there are times that the overloaded files saved in your browser can cause unusual behavior in the program.
Let me know if you have other concerns and I’m happy to help.