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mdrose42
Level 1

GST Paid and GST Received are both going into the same GL acct. I've set up two different GL accts, but can't find a place to choose the GL acct for allocation. HELP!

 
1 Comment 1
AndréB
Level 7

GST Paid and GST Received are both going into the same GL acct. I've set up two different GL accts, but can't find a place to choose the GL acct for allocation. HELP!

Hey mdrose,

 

Welcome to the QuickBooks Online Community! The Sales Tax Centre in QuickBooks Online offers convenient tracking and makes filing taxes much easier. I'm happy to see you've already noticed how taxes are recorded, and which account they're going into. When you first set up taxes, QuickBooks creates a new account in your general ledger to track all taxes paid and collected. Information in this account is then used to generate reports, and your tax returns. You may be used to other accounting software separating taxes into two (sometimes even four) accounts, but QuickBooks Online keeps it simple by using a single account, and letting the tax centre do the heavy lifting. 

 

To ensure everything works well with the tax centre, the best practice is to use the default GST Payable account created by QuickBooks when taxes were first set up. There are several great reports available that show a detailed breakdown of your taxes collected separately from your taxes paid. It just takes a few easy steps:

  1. Head to the Reports tab on the left and scroll down to the Sales tax section.
  2. Select GST/HST Summary Report or GST/HST Detail Report (specific name may vary to include PST or QST).
  3. Specify the desired Report period and Accounting method, then click on Run report.

With this you'll have a quick summary, or detailed breakdown on all taxes on your transactions. If you'd benefit from some additional mapping in the tax centre, you can submit feedback directly to our engineering team.

 

Let me know if this works for you, it's important to know exactly what's going on with your sales tax.

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