How should I deal with an old transaction that is impacting my tax report?

nhung23 · ‎January 25, 2023

Hello all,

I started at a new company and when I opened the bill tracker it shows up an old bill from 2011 (that has been paid) with unapplied payments. I tried applying payments and now it is showing up as a negative number on my tax sales report (over 8k) and I am not sure how to deal with this.

There's also another issue: I issued a cheque for Receiver General to pay taxes last month and the amount is now showing as unassigned tax amount, the problem is that the cheque was posted as "gst payable" and I can't assign a tax code to it.

Any advice on how to deal with these 2 issues?

Thanks in advance!

JamesM4 · ‎January 25, 2023

Hi nhung23,

Welcome to the QuickBooks Community! When it comes to managing your books, QuickBooks is the go-to program that enables you to manage your work with peace of mind. I'll be happy to share more info so you're on the right track with your work.

In order to accurately record your transactions, I highly recommend consulting an accounting professional for expert advice. This ensures your books remain accurate while you continue to manage your work with peace of mind. You can also get in touch with a professional using this link here. Other accounting professionals are able to see this post in the Community and this will allow them to chime in.

Let me know if this info helps. Otherwise, you're more than welcome to ask other questions in the comments below.

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How should I deal with an old transaction that is impacting my tax report?

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