How do I record HST refund received from CRA ?

Forum|Forum|4 years ago
February 27, 2022
1 reply
19 views

I got HST refund through direct deposit from CRA to my chequing account. How could I book this in my QBO ?

QuickBooks Online

JamesM4

Level 6

Hi eric114,

It's a pleasure to have you reach out to us here. I'll be happy to share more info about recording HST refunds so you're on the right track with accomplishing your QuickBooks goals. The program is designed to help you streamline your work and here's how you can record the refund:

1. Click on Taxes from the left menu > select Sales Tax

2. Navigate to the the All returns drop-down choose Filed from the list

3. In the Action column, select Record Refund using the drop-down arrow

4. Enter the Refund info

5. Once you've recorded the refund you'll see it in your account history.

I encourage you to give this a try and let me know how you make out. I'll be one message away in case you have other questions. Otherwise, enjoy the rest of your week!

eric114Author

My CPA didn't use my QBO to file HST Refund. They used their own way to file.

I don't see "All returns" drop down menu, nor "Filed" selection item.

Under this circumstance, what can I do to book the HST refund received from CRA in QBO?

JamesM4

Level 6

I see what you're saying. I highly recommend getting in touch with an accounting professional on how to record this transaction in your books. This ensures you get accurate info that helps keep your books clean. In case you're not in contact with a professional, you can search for one using this link here. Otherwise, here's an article with more info on how to: Create a journal entry in QuickBooks Online. Feel free to ask other questions, I'm here to help.

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