How do i record a GST/HST payment owed to the CRA due to a re-assessment?

Non-Refundable means you do not get it back - now or in a later Tax period. Generally, using Tax Codes in transactions increases or decreases the Tax in any given Tax Period. If the transaction has been recorded using an appropriate tax code, it has already affected the Tax Return and there is nothing to claim. If this is not what has happened, you can use the Adjust Liability function to reduce the Liability account.

So.... did you only remit the GST Return (the one that was reassessed) without payment? If this is the case, then pay the entire amount due. There is nothing more to do. 

If you did pay what was owed on the original return, create a Bill Credit using Receiver General as the Vendor and select your GST Liability account under the Account tab (not the Item) on the Bill Credit. Do NOT use a tax code.Next time you file your GST return, file it in QB first. Make sure you select Enter a bill to pay later (Not sure what the exact wording of the popup is). Now, go to Pay Bills, select Receiver General and apply the Bill Credit to reduce the payment.

Now, you can file the Payment with the CRA and pay the reduced amount.

I am reading reply on this question . what does COA stand for 

Hi there, 

Thanks for reaching out. I'd be happy to answer any questions you may have.

COA stands for Chart of Accounts. If you've got any other questions, don't hesitate to ask. I'm here to help. :) 

Hello Elchi!

You have a special situation since you used journal entries and you have two GST accounts. I would encourage you to contact our phone agents instead so that they can thoroughly guide you in recording your payment while they have visuals on your record. They can do a screen sharing to guide you through the process.

1. Click on Help and choose Contact us.
2. Enter a short detail of this situation and click on Continue.
3. Click the Get phone number button.

You can always visit us back here if you have other questions.

Chart of Accounts

Hi,

Does this steps same with having a GST Suspense (debit) but CRA reassessed our GST and instead of having a refund of $11,000, they let us pay $4,800. So now I have GST Suspense sitting on the debit side because QBO automatically recorded that after I filed.

Thanks,

Marj

Hi James here reading your answer. In my clients book I can see there was a payment at the beginning of January for the GST for last year, how do I record that payment that doesn’t alter my gst payable for this year? 

and also, my clients buy products from China and they pay that GST, is this gst remittance the same as the HST one? Is this included in one bundle payment which will be the HST that I will file quarterly? Thank you 

Hi James, Sorry for delay.  Under taxes , than sales tax their you can file HST for last year . Says prepared a return.  If you show the payment there an file it , it won't affect this year.  For the second question from products purchased in China you would record this the same as suppliers here in Canada.  It would be substracted from your HST you collect from sales. Hope this helps. 

Please clarify how can we create an expense type account as the taxes are collected from customers and paid into Govt exchequer, appreciate if you could explain bit more as I am not sure how to do that in quick books online.

Thanks

Hi there. Recording your transactions the right way is a good exercise for preventing errors in your books. To ensure accuracy in your books, I recommend contacting an accounting professional to get more info on recording the transactions. Doing this will help prevent any future discrepancies in your books. If you're not in contact with one, I recommend you to search for one on our website using this link here. Feel free to ask other questions. 

Hello,

So if I have the opposite scenario - meaning a refund - should I create an income account?

Thank you