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accounting-trans1
Level 1

How to add HST payable column in Bill supplier

HST setup in vendor bills recording
1 Comment 1
GebelAlainaM
QuickBooks Team

How to add HST payable column in Bill supplier

 

Hello there, trans1. 

I can help you set up Harmonized Sales Tax (HST) in QuickBooks Online (QBO).

 

To do this, follow the steps below:

 

  1. Go to Taxes and select Add Tax.
  2. Select Custom Tax from the panel slides out from the right.
  3. Enter the Tax name and Description.
  4. The tax agency name gets populated automatically based on the Tax name you've added. You can change this if you wish.
  5. Type in the Business ID no. Select Start of current tax period from the dropdown.
  6. Choose a Filing frequency and the Reporting method.
  7. Tick the This tax is collected on purchase and enter the Purchase rate.
  8. If the tax applied on purchases is reclaimable, select the box Purchase tax is reclaimable. Then, hit Save.

 

I also suggest consulting with your accountant, especially in choosing the Reporting method to ensure the accuracy of your books.

 

You can check this article for reference: Create a custom tax agency.

 

Furthermore, if you want to create a new tax rate in QBO, visit this article for future guidance: Create new tax rates in QuickBooks Online.

 

Please keep me posted if you have follow-up concerns about handing taxes in QuickBooks. I'm always around for help.