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Level 2

How do I get QB to calculate the "commission" on the PST filing? My PST filing in QB did not match eTax b/c of the discount that is rec. for filing and paying in full.

The "commission" (discount) is received for filing and paying in full each month. It is essentially like a thank you from the government for collecting and remitting on time. Quickbooks did not calculate for the commission and therefore the amount owing was not correct. I made a manual adjustment to the return to correct this but it threw my cash out of balance as a result of offsetting the adjustment to the cash account. 

How can I get QB to correctly calculate the PST return the same was at e-tax?

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Best answer 03-11-2019

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Anonymous
Not applicable

We handle the 'commission' portion of our BC-PST returns...

We handle the 'commission' portion of our BC-PST returns by manually making a "sale tax adjustment' for the commission amount before 'filing' the return.  So its not automated at all.

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9 Comments
Highlighted
Anonymous
Not applicable

We handle the 'commission' portion of our BC-PST returns...

We handle the 'commission' portion of our BC-PST returns by manually making a "sale tax adjustment' for the commission amount before 'filing' the return.  So its not automated at all.

View solution in original post

Level 2

Hi Mike, thanks for your response. I had manually adjuste...

Hi Mike, thanks for your response. I had manually adjusted for this on my last return but it ended up hitting my cash twice - once in the return itself and then again as the adjustment. Have you run into this issue as well? Where are you adjusting for the commission?
Anonymous
Not applicable

On the BC-PSt return there is a separate line item for th...

On the BC-PSt return there is a separate line item for the commission - so the sales tax adjustment (which is a special journal entry) posts DR to reduce the sales tax liability (using the specific line item for PST commission) and CR to 'other income'.  There is no cash refund in our system - the amount of the remittance due is reduced.
Level 2

Thanks Mike - I'll give this a go for our next return.

Thanks Mike - I'll give this a go for our next return.
Level 1

For some reason when I record PST Commission it makes an...

For some reason when I record PST Commission it makes an adjustment on the following months return. Any ideas?
Anonymous
Not applicable

The 'adjustment'entry has to made before doing the 'filing'

The 'adjustment'entry has to made before doing the 'filing'
Anonymous
Not applicable

Re: How do I get QB to calculate the "commission" on the PST filing? My PST filing in QB did not match eTax b/c of the discount that is rec. for filing and paying in full.

The PST commission is adding to the Minister of Finance PST account and adding to the income account.  It should be the other way around.

Anonymous
Not applicable

Re: On the BC-PSt return there is a separate line item for th...

When I filed my return it credited the PST account and Debited the commission income account instead of the other way around.  Are you saying that you do not do the adjustment when us the Sales Tax report in QBO and just make a journal entry to show the amount of the commission and the correct amount paid to the Minister of Finance?

Level 1

Re: How do I get QB to calculate the "commission" on the PST filing? My PST filing in QB did not match eTax b/c of the discount that is rec. for filing and paying in full.

I wanted to post an update to this where I found an online video that addresses the commission on the PST reports and not filing correctly. 

 

Check out this article:

https://mycloudbookkeeping.org/recording-pst-commission-quickbooks-online/