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lynne24
Level 1

When we import goods into Canada, we accrue GST liabilities. These are then paid (CARM) monthly. How do I record them?

 
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LollyNino_C
QuickBooks Team

When we import goods into Canada, we accrue GST liabilities. These are then paid (CARM) monthly. How do I record them?

To record GST/PST when paying taxes to CBSA, use the category section in your expense and target the GST/PST account, exempting it under tax codes, @lynne24.

 

To determine the correct sales tax code, consult an accountant to ensure your books are accurate. If you don’t have one, visit our ProAdvisor page to find professionals skilled in handling finances and providing business solutions.

 

Here's a helpful guide to assist you in recording a sales tax expense on imported goods.

 

If you have further questions about taxes and other queries in QuickBooks, feel free to click the reply button.

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