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V-K
Level 1

whenever i import a csv for m journal entries it does not capture the GST value. why is this so?

it claims that it can only be read if the column head is VAT. howver despite having the column head as VAT it still is not able to capture the values

1 Comment 1
LouiseG
QuickBooks Team

whenever i import a csv for m journal entries it does not capture the GST value. why is this so?

You can create a GST adjustment to ensure your tax records are accurate and compliant with tax regulations, V-K.

 

Please be aware that QuickBooks Online (QBO) does not support tax imports, resulting in GST value not being captured during the import of your journal entry.

 

To create a GST adjustment, combine the collected tax from all your journal entries into a lump sum. Then, use the appropriate account type. You can set up an expense account to increase GST payable, or an income account to decrease it.

 

Here's how:

 

  1. Navigate to the Gear icon and select Chart of Accounts.
  2. Select New.
  3. Name your adjustment account
  4. From the Account Type dropdown, pick Income or Expenses.
  5. Select the account’s Detail Type.
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  6. Press the Save and Close button.

 

Next, enter the adjustment by heading to the Taxes tab. Follow the steps below:

 

  1. Go to Taxes.
  2. Find the tax period you need to adjust, then select Prepare Return.
  3. Next to the entry you need to adjust, select Adjust.
  4. Select the Adjustment date and the Tax rate.
  5. Select the Adjustment account for adjusting GST.

 

For more detailed information, refer to this article: Create or delete a GST adjustment in QuickBooks Online.

 

Moreover, I'll provide the following articles to help manage your GST in the system. It includes steps on how to record tax payments and use the GST Liability report to see how much sales tax you owe: 

 

 

If you have further questions about importing journal entries or managing your sales tax in QBO, please do not hesitate to revisit this thread. My team and I are always here to assist you.