cancel
Showing results for 
Search instead for 
Did you mean: 
Highlighted
Level 2

HST Filling - Difference in Amount Due and Amount Assessed

I am new in Quickbooks and need help on Sales Tax - HST. 

 

The amount filed in Quickbooks is 499.44 but after assessment, the amount that is due is only 377.56. My question is how will I adjust it? Do I need to always ensure balance column is zero? I will not be paying additional amount for this filing. 

 

Capture.PNG

Solved
Best answer 10-10-2019

Accepted Solutions
Level 5

Re: HST Filling - Difference in Amount Due and Amount Assessed

Hi,  joey7 

01. Record  a payment from the tax centre > dropdown menu Add new >create a clearing bank account and record payment for the amount of $121.88

 

02. then post a journal entry

Debit    Clearing Bank account 

Credit   GST/HST Payable

 

03.  post another journal entry

Debit     GST/HST Payable

Credit   Accounts Receivable select Customer names under the name column

 

04.  move to the cheque screen to issue the refund

Payee select customer> Amounts are - Out of scope of Tax> Category - Accounts Receivable 

OR you can apply this amount to the other due invoices without issuing a cheque

 

Note I assumed you overcharged your customers for taxes, therefore, you refunding this overcharged amount step 04. 

Comment back for further clarifications / to discuss.

View solution in original post

2 Comments
QuickBooks Team

Re: HST Filling - Difference in Amount Due and Amount Assessed

Hi,


Welcome to the QuickBooks community. With QuickBooks Online, you can fine-tune your sales tax filings in a few easy steps using the Sales Tax Adjustments feature. When you enter a sales tax adjustment, QuickBooks Online automatically adds a general journal entry to show the adjustment. The next time you file your GST/HST, PST, or QST, the adjustment is included in the File Sales Tax window. QuickBooks Online includes the adjustment on the sales tax line that you chose in the Sales Tax Adjustment window. The adjustment is shown as a general journal entry in the related section of the GST/HST or PST Detail report.


To know more about how to adjust your sales tax liability, check this community article: https://quickbooks.intuit.com/learn-support/en-us/sales-tax/how-do-i-adjust-my-sales-tax-liability/0....


If you require further assistance with your sales taxes, call our phone support team at 1-855-253-1536 to have a specialist take a closer look. Our agents are available Monday to Friday, 9 a.m. to 8 p.m. EST and Saturday from 9 a.m. to 6 p.m. EST.


Let me know if you have any other questions.
 

Level 5

Re: HST Filling - Difference in Amount Due and Amount Assessed

Hi,  joey7 

01. Record  a payment from the tax centre > dropdown menu Add new >create a clearing bank account and record payment for the amount of $121.88

 

02. then post a journal entry

Debit    Clearing Bank account 

Credit   GST/HST Payable

 

03.  post another journal entry

Debit     GST/HST Payable

Credit   Accounts Receivable select Customer names under the name column

 

04.  move to the cheque screen to issue the refund

Payee select customer> Amounts are - Out of scope of Tax> Category - Accounts Receivable 

OR you can apply this amount to the other due invoices without issuing a cheque

 

Note I assumed you overcharged your customers for taxes, therefore, you refunding this overcharged amount step 04. 

Comment back for further clarifications / to discuss.

View solution in original post