How can I set up HST rebate for non profit in QBO?

Hi there,

Welcome to the Community. I'd be glad to steer you in the right direction with setting up an HST rebate for a non profit.

I want to make sure you get the correct info on this. I recommend reaching out to your accountant to find out what's the best way to record the rebate. If you're not is contact with one, I encourage you to search for one on our website using this link here. Doing this will help prevent any future discrepancies. Let me know if you have other questions. I'm here to help.

Hi,

Does anyone know how to properly set up the HST rebate for NFPs so that the rebate is properly posted to a receivable account and there is a proper tracking of the rebate/expense portions calculations at invoice level on purchases? I like the expense portion to go the respective GL account. There is workaround for the desktop version that works very well and has all the required information and reports about the calculations but I'm told by the tech support expert that such a workaround doesn't exist in the online version. I saw some posts here but they are all at least 3 years old. 

Thank you so much. 

It’s not an accountant issue. It’s a QBO issue. In Ontario certain entities can claim a portion of HST paid as a rebate. So I need clear QBO sales tax set up  steps how this should be configured. I have this properly setup in the desktop version. The QBO uses an entirely different platform. 

Can someone help me to set this up in QBO?

Hi there, Gomes.

Setting up the HST rebate in QBO involves a complex process that goes beyond standard sales tax configuration. This setup must align with your organization's specific tax status with the CRA.

I recommend consulting a professional accountant or bookkeeper who specializes in Canadian non-profits for assistance with tax compliance, ensuring that your QBO setup accurately reflects your organization’s requirements for filing with the CRA.

If you don't have an accountant yet, you may want to visit our QuickBooks Certified ProAdvisor website to assist you in finding a qualified professional.

I'll keep this thread open for future discussions.