How can I add GST/HST Payments and refunds?

You should use the sales tax module for it. There are options to add a payment or to receive a refund.

If you are making installments for GST/HST, you will be making a journal entry to GST/HST suspense account.

Thanks

Prachi

Yes, I did an installemnt for GST/HST but it is affecting GST/HST Suspens account not GST/HST Payable. Why it is not affecting GST/HST Payable account?

It will affect the payable account, when you use the sales tax module to file the sales tax in QBO. At that point, QBO will make the entry like this:

DR sales tax payable

 CR sales tax suspense

When you pay by bank, the following will be the entry:

DR sales tax suspense

 CR bank

Hi PrachiJoshi and sh2295,

It's great to see you in Community!  Recording GST/HST payments and refunds in QuickBooks Online and understanding how it reflects in your accounts, is something I'd like to provide additional information for. 

Two default accounts are automatically setup when you initiate the Sales Tax module.  Any transactions that include sales tax will be added to the Payable account.   When you file your return, the liability amounts are moved from the Payable to the Suspense account.  Once you record your sales tax Payment it's moved from suspense to the bank account.

To record your payment or refund, follow these steps:

1.  Select Taxes from the left menu bar and open the Sales Tax tab 

2.  From the list of prepared returns, click on Record payment from the drop-down in the Action column

3. Choose the Payment type if the number is positive and Refund if the number is negative

4.  Enter the date according to when you paid the CRA or Revenu Québec

5.  Use the Memo if there's anything you want to add as an identifier

6.  Review the information and hit Record Payment when done

For future reference, please refer to this article for Filing Sales Tax in QuickBooks Online.

If you have any additional questions or concerns, please don't hesitate to reach back out.  We'd be happy to help!