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April 16, 2023
Question

I pay CRA installments for Income Tax. How do I record these installments?

  • April 16, 2023
  • 1 reply
  • 1 view
No text available

1 reply

Level 6
April 17, 2023

Hi marilynsouthwell,

 

Thanks for connecting with us here. When it comes to recording your tax instalments, QuickBooks is the go-to program that helps simplify the process. I'll be happy to show you how to do this on your end. 

 

Here are the steps for recording a tax instalments in QuickBooks

 

  1. Go to Taxes and select Payroll tax.
  2. Select Prior tax history.
  3. Select Add Payment.
  4. Enter the required payment information.
  5. Select Ok.

For instalments that are currently due:

 

  1. Go to Taxes and select Payroll tax.
  2. Select the Payments tab.
  3. In the Upcoming tax payments section, select Pay for the tax you want to pay.
  4. For the Payment Date, select Other and enter the actual date the payment was made.
  5. Enter the cheque number.
  6. Select Record and print

 

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 need anything else.