Let me walk you through with entering the GST/PST payment, efemontreal.
First, let's create an Other Current Liability account. Here's how:
- Click Accounting, then go to Chart of Accounts.
- Click New.
- Click the Account Type drop-down arrow, then choose Other Current Liabilities.
- Enter a desired name, then click Save and Close.
Next, create a sales tax item. Here's how:
- Click the Gear icon, then go to Products and Services.
- Click New, then choose either Non-inventory or Service.
- Enter a desired name.
- In the Income account field, choose the current liability you've created.
- Make sure the Inclusive of tax box is unchecked, then click Save and close.
Then, add the sales tax item to a sales transaction. Here's how:
- Click the Plus sign (+) icon, then choose either Invoice or Sales Receipt.
- Under PRODUCT/SERVICE column, choose the sales tax item you've created.
- Enter the lump sum amount in the AMOUNT field, then click Save and close.
Lastly, here's how you can apply the payment:
- Click the Plus sign (+) icon, then choose Cheque.
- Choose the sales tax agency in the payee field.
- Under the ACCOUNT column, choose the liability account you've created.
- Enter the lump sum payment in the AMOUNT field.
- Click Save and close.
That'll do it. Of course, you can come back anytime if you need further help.
