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pamela-craft-cra
Level 1

ITC NOT SHOWING ON A TAX REPORT

THE ITC I PAID ON PURCHASES ARE NOT SHOWING UP ON THE TAX REPORT
1 Comment 1
PatriciaT
QuickBooks Team

ITC NOT SHOWING ON A TAX REPORT

Hi pamela-craft-cra,

 

I'm glad to hear you're using the Sales Tax Centre in QuickBooks Online  to produce accurate returns you can always rely on. I know how important it is to ensure all relevant transactions show up in your tax report. I'll be happy to assist you with this.

 

The Sales Tax Centre is compliant with the CRA and is one of the most robust features in the program to accurately track your sales taxes. The Input Tax Credit (ITC) line in your tax report will not show any expense or bill transaction that is “out of scope” of tax, "exempt" of tax, or not having a sales tax code. I strongly encourage you to review the transactions in question and verify that the correct sales tax code is selected. It's also important to keep in mind that not all provinces report ITCs. If when turning on sales tax in QuickBooks Online, you selected a province that doesn't do ITCs, you won't be able to view those in your tax report. Feel free to reach out to your provincial tax agency and your accountant  if you'd like more information on that. They are also incredible resources to make sure everything is lining up correctly in your books for your business needs. You can invite your accountant in your account by going to the My accountant menu and entering the appropriate email before confirming the invite. Alternatively, you can click on Find a pro to help to access our list of accountants.

 

I hope this helps to clarify how ITCs works. Do not hesitate to reach out if you have more questions.

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