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lucshay
Level 1

After our service vehicle was hit, we were required to pay the gst only on the repair, how do i post this?

 
2 Comments 2
Amanda-B
QuickBooks Team

After our service vehicle was hit, we were required to pay the gst only on the repair, how do i post this?

Good evening lucshay,

 

Thanks for reaching out to us here. Making sure you're recording your transactions properly is an essential step for maintaining clean books. I would be happy to point you in the right direction.


To ensure accuracy in your books, I recommend reaching out to an accounting professional for expert advice on creating these types of transactions. They'll be able to guide you in choosing the correct transaction type as well as which accounts to affect so that your accounts can end up with the right balance. You can add your accountant to your books by going to the My Accountant tab of your QuickBooks account. You can also find an accountant that has experience using QuickBooks near you by clicking on the Find a pro to help option in that section.


If you have any other questions, feel free to reach out here.

AdminAndrea
Level 5

After our service vehicle was hit, we were required to pay the gst only on the repair, how do i post this?

You can enter a "bill" for the zero-cost service with just GST - it's a work around because QBO doesn't let you enter a tax-only entry.

 

Line 1 - Repairs and maintenance (or whatever GL account you would use)  Amount 0.01 - Tax GST 5%

Line 2 - Repairs and maintenance (same as previous line)  Amount (0.01) - Tax Out of Scope

 

Enter the actual GST amount in the Tax/GST field 

**Entering the 0.01 and the -0.01 will cancel each other out (so no actual change to your GL of Repairs) but it will give you the option to enter an amount of GST.**

 

Save.

 

Hope this helps.

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