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Matar
Level 3

Tax Agency

Hi,

OQB has Suppliers, Customers and Employees, how can I add Canada Revenue Agency so I can pay them when I have to pay taxes and Receive from them when they send me refunds.

3 Comments
AddieC
QuickBooks Team

Tax Agency

Hello, 

 

Paying Sales Tax is an important part of running a small business. QuickBooks Online has your back, and makes this process easy for you. I'd be happy to explain how to record Sales Tax payments and refunds. 

 

This is all done through the Sales Tax portal, rather than by setting up the CRA as a payee. 


Take a look at these articles that will help you get started with Sales Tax, file and pay your Sales Tax, and record a refund from the CRA:

This will get you on the right track for everything relating to Sales Tax in QuickBooks Online. If you have any other questions, please reach out to our tech support agents.

 

Have a great day.

Matar
Level 3

Tax Agency

Hi and thanks for your reply.

I do know how to enter and report taxes, my question is about having the same agency or let say a company that I buy from and sell to in one profile, there is no way to have one Customer/Supplier in one.

AndréB
Level 7

Tax Agency

Hey Matar,

 

Thank you for the clarification. It's definitely useful to be able to track different transaction types to the same customer or supplier. While QuickBooks Online considers these to be completely separate entities, I'll be happy to offer you some options to suit your needs.

 

One thing to keep in mind is that A/R tracking works best for people set up as customers, and A/P tracking works best for people set up as suppliers. For this reason, it's best to keep them separate. Here are a few simple approaches that I would take:

  • If an individual or organization should have an Accounts Receivable balance, you can set them up as a customer. You can easily choose a customer as a Payee on a Cheque or Expense to record an expense paid to them.
  • Similarly, you can set them up as a Supplier if they need an Accounts Payable balance. You'll be able to select this supplier in the Received From column of a bank deposit to record money received from them. 

If they need both an Accounts Payable and Accounts Receivable balance, it's best to have them set up as both a supplier and a customer.

 

Let me know if there's any more I can help with.