Open receivable due to HST overpayment

sk4747 · ‎July 24, 2022

Filing of Canadian HST return for 2021 resulted in AR balance as of December 31 due to overpayment during the period. The software automatically recorded it under Accounts Receivable. It also appears in the Income Tracker (see the attached screenshot). I am using QBD Pro. I received the refund in 2022 and accounted for it in Record Deposit window.

The only action available for that row in the tracker is "Print Row". While the AR balance for Receiver General nets out to zero after applying the refund, I am not sure how to clear this entry in the income tracker window.

Any help is appreciated.

sk4747 · ‎July 25, 2022

Never mind. I found out how to do this. Go to Receive payments under Customers menu. This cleared the open receivable.

View solution in original post

JamesM4 · ‎July 25, 2022

Hello sk4747,

Welcome back to the Community. QuickBooks is a powerful program that helps you manage your work with peace of mind. I'll be glad to share more info so you're on the right track with your work.

Making sure you're recording your transactions properly is an essential step for maintaining clean books. To ensure accuracy in your books, I recommend reaching out to an accounting professional for expert advice on this. 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.

sk4747 · ‎July 25, 2022

Never mind. I found out how to do this. Go to Receive payments under Customers menu. This cleared the open receivable.

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Open receivable due to HST overpayment