QuickBooks HelpQuickBooksHelpIntuit

Tracking PST in BC, Manitoba, and Saskatchewan

SOLVEDby QuickBooks144Updated 2 weeks ago

Provincial Sales Tax (PST) for British Columbia, Saskatchewan and/or Manitoba is recorded differently than Goods and Services Tax (GST) or Harmonized Sales Tax (HST) in QuickBooks Online when collecting sales tax on expenses and purchases.

Previously, if you made a purchase that had PST applied, QuickBooks Online would create a journal entry that broke the PST out into a separate account, similar to the way GST and HST are treated in other provinces. However, while the PST you collect on sales must be remitted to the province, the PST you pay on expenses doesn't get deducted from those amounts when you file your PST. Due to this, PST is now included in the expense total or capital item you've purchased.

This way of accounting for PST ensures that your company's accounting is accurate and will save you time at period-end.

Was this helpful?

You must sign in to vote, reply, or post

Sign in for the best experience

Ask questions, get answers, and join our large community of QuickBooks users.

More like this