I overpaid my GST. I received a refund cheque from CRA and deposited it in my bank account. How do I record the refund of the overpayment?

dleaf1964 · ‎June 24, 2019

QB calculated how much GST I owed. I was not getting clear information from CRA if the payment was received so I paid again (to be sure that I was not incurring late fees). After the amounts were resolved, CRA sent me a refund cheque of the overpayment. How do I record this cheque without counting it as income? It is NOT due to mistakes with taxing customer purchases.

LauraAB · ‎June 24, 2019

Hi dleaf1964,

This is a great question. I'm glad to hear that you got the refund for your overpayment and know it's important to make sure your books balance.

QuickBooks Desktop only allows you to file sales tax and make the full sales tax payment one time. Meaning, if you didn't record the second payment to the CRA in the program, there isn't anything you need to do in this case because the books should balance. If you did record it, how you recorded the second payment would give us more of an idea of what to work this out. In which case, getting in touch with our phone support team will help as an agent will be able to gather more details about what you've done.

If you were hoping to record the overpayment and then record the refund received to reflect this actually happening outside the program, I recommend checking in with an accountant to see the best way to proceed. It may be as simple as writing a cheque to the vendor and then recording the refund, or they may want you to do something else. You can learn more about recording vendor payments and receiving vendor refunds by using the F1 key as a shortcut to get to QuickBooks Desktop Help, then switching to the Help tab and clicking Search. Use keywords to find related articles.

To get in touch with us, call 1-877-772-9158. Pro and Premier support are available 24/7 and Enterprise support is available Monday to Friday from 9 a.m. to 8 p.m. EST.

Enjoy your day and stop by again should you need anything else!

dleaf1964 · ‎February 27, 2020

Thank you for answering. I just received your reply today, 8 months after you sent it. I guess I don't really know how to use this forum. In the end, I did have to pay an accountant to figure it out.

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I overpaid my GST. I received a refund cheque from CRA and deposited it in my bank account. How do I record the refund of the overpayment?

I overpaid my GST. I received a refund cheque from CRA and deposited it in my bank account. How do I record the refund of the overpayment?

I overpaid my GST. I received a refund cheque from CRA and deposited it in my bank account. How do I record the refund of the overpayment?

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