I need QBO to calculate the GST portion and record it separately as an Input Tax Credit.Only the net amount excluding GST should be posted to the related expense account

We can take the necessary steps to address your specific tax queries, Kbm-marineservices.

To simplify tracking, you can combine the PST amount with the total expense. When making a purchase, record the total amount paid, including PST, and assign it to the appropriate expense category, such as repairs and maintenance.

For GST, a tax-inclusive rate must be used. When recording a purchase, enter the total amount paid, and QuickBooks will automatically calculate and separate the GST portion. You can then manually adjust the GST amount before saving the transaction.

In QuickBooks Online (QBO), you'll need to set up a tax code or sales item to track GST on sales liability. When recording a sale, apply this tax code, and QuickBooks will calculate the GST automatically based on the sale amount.

You can also refer to this article to learn how to add a new tax agency in QBO: Set up where you collect sales tax in QuickBooks Online.

Don’t hesitate to contact us if you need additional help with QuickBooks.