I filed 2017 GST return in January (my client was way behind when I took over his books).
QBO automatically post JE to GST Suspense (debit) -$11,400.
In February we received an assessment that CRA did not allow his ITC and let him pay $4,800 plus penalties.
I recorded his payment under bill - CRA as payee and under account Non-Refundable taxes thereafter penalties. But the GST suspense of -$11,400 is still sitting in this account. I am going to do an adjustment JE of credit GST suspense and debit Non Refundable taxes?
I just need confirmation if I'm doing this right.