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My company is setup to use the Quick Method for HST remittance to CRA. This means that:
Does Quick Books Desktop support HST remittance using this method?
What is the best practice method for tracing HST paid and collected to simplify Quick Method filing?
What happens with the net of "HST collected - HST remitted - HST paid on non-capital expenditures" - does it become another form of Income in books?
Thank You.
Hello MarcinK,
Welcome to the QuickBooks Community. QuickBooks Desktop is a versatile program that's designed to help you streamline your work using the powerful features offered in the program. I'll be happy to steer you in the right direction so you're on the right track with your work.
Since QuickBooks Desktop doesn't support this method yet, I recommend getting in touch with an accounting professional that can share expert advice on this. Making sure you're recording your transactions properly is an essential step for maintaining clean books. If you're not in contact with a professional, don't worry, you can search for one using this link here.
I'll also leave this question open in the Community so other accountant users can share their advice. Otherwise, feel free to ask other questions, I've got your back.
I am looking to file HST, how do I do this?
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