GST Sales Tax instalment annual filing

Calgarygirl · ‎July 30, 2020

Hi there, I have a couple questions regarding a GST instalment for annual filing. My GST annual return for 2019 was normally due in March 2020 this year. With the Covid-19 CRA allowed companies to defer their GST payment owing. I did make an installment in April of this year and the balance owing was paid end of June. I booked the Aprilinstallment as mentioned from prior assistance in this forum . However, because the installment was after YR end it doesn't pull into the Sales Tax Return to file on line 110 for my annual return for Jan 1.2019-Dec 31.2019. Do I have to do a Sales Tax Adjustment and if so when the screen pops up for the following:

Adjustment - date is for Dec 31.2019 (which is the correct yr) -

Tax Agency > Receiver General

Sales Tax Item - GST Instalments

Tax Line -Line 110 Instalment and other annual filer payments

Sales Tax Account > ITC Payable

Adjustment Account > Do I leave it as this account (says what account should I pick?)

Amount > the amount for instalment from Apr/20>

Radio button for Increase Sales Tax Line or Decrease Sales Tax Line?

Then OK

Any help is very much appreciated to get this cleaned up.

Nick K · ‎July 30, 2020

Hi Calgarygirl,

Making sure everything is showing on your GST filing is important to make sure you submit the correct amount. I can help point you in the right direction for this.

When filing your amounts in QuickBooks Desktop it will only show the amounts within your fiscal year. You can make a sales tax adjustment but before doing so I'd suggest speaking with your accountant as they go through training for these kinds of questions. If you do not have an accountant we have your back. You can go to our find an accountant page and find one in your area that can help.

Have a great day!

Calgarygirl · ‎July 30, 2020

Hi Nick, thank you for replying. My GST remittance numbers are correct, but because I paid an instalment for my 2019 return in April 2020 it doesn't show up for that filing yr but I do see in the account instalments on the balance sheet in 2020. I need to know if I make a Sales Tax Adjustment as noted in my email I want to be sure I am filling out correctly the lines in the pop up Sales Tax Adjustment box.

Thank you

Nick K · ‎July 30, 2020

Hi again,

I'd recommend speaking with your accountant on how to fill out a sales tax adjustment as they are highly trained on how to do this. That way you can have confidence that your books are correct. If you don't have one you can use the link in the post above to find one in your area.

Have a great day!

Topics

Training

Community

Resources

GST Sales Tax instalment annual filing