How do I enter a GST payment so it gets applied to the GST Payable Account instead of the Receiver General Suspense Account/GST Suspense Account?

harold-countryro · ‎March 22, 2024

When I fill out the sales tax payment form it applies it to the suspense account and I don't see any obvious way to move it from that account to the GST payable account.

Henock K · ‎March 22, 2024

Hi harold-countryro,

Welcome to the Community. It's important to correctly record your sales tax in your QuickBooks Online account to keep your books up to date. I'd be happy to help.

QuickBooks Online automatically adds the GST/HST Payable and GST/HST Suspense accounts when you set up sales tax. Every transaction entered with GST/HST/QST is added to the GST/HST Payable account. The GST/HST Suspense account should remain at zero. Following the completion of the sales tax return, a two-line journal entry is made, transferring what you owe (or what is owed to you) from the GST/HST Payable to the GST/HST Suspense account. Recording the sales tax payment transfers the funds from the Suspense account to the bank account. I hope this helps!

Let me know if you have any questions, I'll be happy to help.

Topics

Training

Community

Resources

How do I enter a GST payment so it gets applied to the GST Payable Account instead of the Receiver General Suspense Account/GST Suspense Account?

How do I enter a GST payment so it gets applied to the GST Payable Account instead of the Receiver General Suspense Account/GST Suspense Account?

Need to get in touch?