I want to track ITC and HST collected on two different accounts how I can change the account mapping. This was possible in desktop version

Hello c2bond!

Thanks for reaching out about mapping the tax accounts.

In QuickBooks Online, one Payable account is used per tax agency. If you file each part of the HST separately, you can create a second agency by following these steps:

1. Open the sales tax center by selecting Taxes on the left, then Sales Tax at the top.
2. Click the Add tax button in the top right corner.
3. Choose Custom tax as the type of tax you want to add.
4. Fill out the form with the agency name, rates, etc.
5. Click Save.

This will create separate Payable and Suspense accounts for your new agency, as well as tax codes that map to the new accounts.

If you'd like assistance with this or anything else, feel free to reach out to me.

Sharon

High level question:

My Item List has several entries for both HST collected and for ITCs, but they both flow into account 23310, HST on Sales. 

How do I reassign the ITC Items (only) so all ITCs flow into a separate account, 23320, HST ITCs?

Background:

Am using Desktop Premier. I want to have the HST collected flow into one GL account (23310), and the ITCs into another (23320).  This will more easily allow a reasonability test on the two balances (eg. the 23310 movement each month should be 13% * my monthly sales; it's a bit more fiddly to back out the non-HST items from expenses, but the principle's the same to test the 23320 movement.)

Once I've tested both, I file the return using the CRA website, i.e. I don't use the QB menu Sales Tax > File Sales Tax), then journal the amounts to the Receiver General payable.

Hi there, mike_van_de_wate.

Unlike QuickBooks Desktop, this option isn't offered in QuickBooks Online (QBO). 

I can see how beneficial this feature to you and other users of QBO. I'll definitely forward this to our developers so they can consider this and be part of the next update.

You may find this article helpful: How to use reports to troubleshoot problems with sales tax amounts.

You can always drop by in the Community if you have other concerns.

Sorry - I _am_ using Desktop.  

Hi Mike. QuickBooks sets the accounts automatically when you set up the sales tax. To check the breakdown, go to sales tax and select tax. I've attached an image below for reference. Feel free to ask questions. I'll be on standby. 

Yes, that's what it does, but I want to assign the ITC Item to a different GL account.

How do I do that?

You'd need to select the Vendor for the Tax Agency assigned to the tax item you'd like to change the account for. On the Sales Tax Settings, you'll need to change the account for the drop-down for sales and purchases. I've also attached an image highlighting where I'm referring.

Let me know if you have questions. 

Hi there,

Thank you for the info.  It really helps to separate ITC and tax collected.  But it seems to only separate from now on.   How can I separate those already put in GST/HST payable in the past?

Thanks

Char

Hi lionsimba,

Great attention to detail. You're right, changing the settings will only make the changes effective for new transactions. In order to have this change affect past transactions, you'd need to delete and re-enter the transactions you've already put into your company file. The reason changes made in the program don't retroactively apply to previous transactions is because we know sometimes changes need to made to how things are set up moving forward while preserving what was entered in the past.

Feel free to leave us some feedback about this by going to the Help menu and choosing Send Feedback Online in QuickBooks Desktop. We love hearing from customers like you about ways we can make changes to the program to make running your business an even smoother process.

I'll be here should you have any further questions. Have a great weekend!

Hi LauraAB,

Thanks for your reply.   The transactions I have are too many to re-enter them all.  But that's good to know.  Thank you!

You're welcome!

I was on a chat with QBO support today because I had 2 separate accounts for HST as well.

One for the ITC on purchases and the HST payable on sales.

After the QBO support person explained to me I couldn't have 2 accounts I reallocated the transactions to the QBO # 212300. Reluctantly!!!!

I than looked at the various tax reports within QBO as well as  the tax filing and the adjustments didn't appear anywhere.

I'm confused because the Sales tax report for Revenue Canada shows :

Collected on sales $ ####

Paid on Purchases  $ ####

Adjustments            $ ####

The Only Amounts showing are from Sales.

Why are the adjustments I just made not showing up on any tax report.

If I change the accounts back to a separate one for ITC and add a separate tax agency will the purchases and journal entry adjustments  show up on the Tax reports????

I look forward in hearing back.

 was on a chat with QBO support today because I had 2 separate accounts for HST as well.

One for the ITC on purchases and the HST payable on sales.

After the QBO support person explained to me I couldn't have 2 accounts I reallocated the transactions to the QBO # 212300. Reluctantly!!!!

I than looked at the various tax reports within QBO as well as  the tax filing and the adjustments didn't appear anywhere.

I'm confused because the Sales tax report for Revenue Canada shows :

Collected on sales $ ####

Paid on Purchases  $ ####

Adjustments            $ ####

The Only Amounts showing are from Sales.

Why are the adjustments I just made not showing up on any tax report.

If I change the accounts back to a separate one for ITC and add a separate tax agency will the purchases and journal entry adjustments  show up on the Tax reports????

I look forward in hearing back.

Hi again pamela-craft-cra,

This sounds like a similar question you posted in the community. I went through it for you, and I'll add a link to that thread here for your reference: ITC on tax report

Have a nice day!