How to apply HST installments to filed return

slhiltz · ‎October 31, 2022

I am filing an annual HST return. There is no option to add the installment pymts (as an adj or otherwise) before 'filing'. How do I move them from the installment acct to the filed return? I can only think of moving to cash and applying a cash pymt to offset.

Alex M · ‎October 31, 2022

Hi there slhiltz,

It's vital that all your transactions be entered correctly for your tax filings to be accurate. QuickBooks Online is a great tool able to help you keep track of amounts of taxes on transactions so you can have the correct amount to file with the government. I can point you in the right direction for how to enter your installment payments so they appear in your filing:

In order for your tax installments to affect your filing, they would need to be entered following these steps:

Click the Taxes tab on the left navigation menu.
Select Sales tax at the top of the page.
Click New, then select Installment.
Enter the account the payment is from, the payment date, the filing date, and the amount.
Click Record installment.

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

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Alex M · ‎October 31, 2022

Hi there slhiltz,

It's vital that all your transactions be entered correctly for your tax filings to be accurate. QuickBooks Online is a great tool able to help you keep track of amounts of taxes on transactions so you can have the correct amount to file with the government. I can point you in the right direction for how to enter your installment payments so they appear in your filing:

In order for your tax installments to affect your filing, they would need to be entered following these steps:

Click the Taxes tab on the left navigation menu.
Select Sales tax at the top of the page.
Click New, then select Installment.
Enter the account the payment is from, the payment date, the filing date, and the amount.
Click Record installment.

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

slhiltz · ‎October 31, 2022

Great!

Regarding Filing Date, I assume it means the end date of the return being filed, as one is not exactly sure on the date you actually file it.

mdpminc · ‎January 16, 2023

Thank you for posting solutions for others. I am not able to record a sales tax installment, in this case HST installment for year 2022 as filing date wont take dates with 2022.

I followed someone else suggestion of using A/P but that then leaves my with a large entry called "Unapplied Cash Bill Payment Expense".

Any other suggestion how to record it or where should HST installments be really placed ?

for year 2023 is my only option to create an entry at the time of installment ?

Thanks

Henock K · ‎January 16, 2023

Hi mdpminc,

Thanks for joining this thread. It's essential to correctly apply your HST installments in QuickBooks Online to keep your books up to date. I'd be glad to point you in the right direction to apply your retrun.

I encourage you to consult an accountant for the best course of action. They'll be able to point you in the right direction to record your HST installments return to keep your books balanced. If you don't have an accountant, we can help you locate a ProAdvisor in your local area.

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

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How to apply HST installments to filed return