Taxes

Broker invoices us for CRA value of goods with the 5% GST calculated.  We then pay a customs release fee.  How do we post this on our supplier account(the broker) when the GST represents 90% of invoice value.  Example Broker invoice shows GST 1607.97.  We then have an additional item "release fee" of $150 and a GST amount of 7.50 associated with this.  We want to make sure when this is posted that the amounts show up on our GST Detail report prior to doing our quarterly reports.

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Does anyone else have an issue with the Incorrect sales tax calculations for Ontario?

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Acuity : Credit C. transaction = service provided + HST but when added to Quickbooks shows only a total amt. and no tax code. Acuity does not allow HST.

Hello all,  I started at a new company and when I opened the bill tracker it shows up an old bill from 2011 (that has been paid) with unapplied payments. I tried applying payments and now it is showing up as a negative number on my tax sales report (over 8k) and I am not sure how to deal with this. There's also another issue: I issued a cheque for Receiver General to pay taxes last month and the amount is now showing as unassigned tax amount, the problem is that the cheque was posted as "gst payable" and I can't assign a tax code to it. Any advice on how to deal with these 2 issues? Thanks in advance!

I messed up the date on my first HST filing in Quick Books Pro. Quick Books thinks that I filed and wont let me file under the proper date. How do I delete the old HST return so I can I can file the proper one? (The original return did not register with the CRA)

Hello Team This is question might sound silly but I want make sure. I have a reconciled invoice in the year 2021. But the invoice was coded to wrong Customer. I am pretty sure, if now I changed customer name, that would not impact my Bank Reconciliation for sep2021. Is it Right ? Cause I am not deleting or reversing the amount, just correction the customer name in payment section.  Another question I have, this year is the First time I am sending T4 slips to all my employees through QBO online. Most of the employees have email account / workforce account .Some of the employees does not have email account in the profile. So I guess those employees will not receive T4 slips. Is it right ?  Can anyone please let me know the steps how to send T4 SLIPS.  For T4 summery do I have to send it to CRA ,OR QuickBooks has already sent T4 summery to CRA.  Thanks Team Appreciate your Time and Help.       

Why do my employee payroll cheques shw HST when matching in bank?

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We created a GST receivable account to have GST on purchases coded to this account - we are attempting to keep only GST on sales coded to GST payable, which will help us reconcile and file GST easier. I went to the Item List to change the account on the GST on purchases items but I can't edit any Sales Tax Items to change the path from the payable account.  Can someone tell me how I can achieve this?I want to only impact any purchases made going forward (and will need to change anything entered this year already for January but do not want to apply it historically). Thank you. 

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I am filing an annual HST return. There is no option to add the installment pymts (as an adj or otherwise) before 'filing'.  How do I move them from the installment acct to the filed return?  I can only think of moving to cash and applying a cash pymt to offset.

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I tried following the instructions on how to set this up but I can't see the MTD item on the Taxes Page and Advanced Page. Can you assist me with this?

How would you book retail lotto sales in QBO? Enter the daily sales and then handle the bank withdrawal feed.-Lotto is sold for cash.-Retailer commission is removed-Lotto withdraws the amount from the bank accountNote: sometimes the payouts of winning tickets is more than the sales so Lotto deposits funds to the bank account.Any suggestions on the proper workflow setup?

I noticed that there is no tax shown on an invoice I created.  I haven't been able to locate where to edit that and an explanation of the difference between "out of scope of tax", "exclusive of tax" and "inclusive of tax".

My company started to use QuickBooks desktop premier recently, the fiscal year of my company is on Dec 31, therefore, it is a good idea to change the accounting system to QuickBooks. We sale service to our clients, therefore, we charge HST to our clients on invoice. at the same time, the vendors will charge me HST. Right now, I have questions on setting up the opening balance of my clients and vendors, how do I deal with unpaid invoices from clients and vendors with HST from last year in different system? when I type the amount in the opening balance, it does not ask me the HST amount. How do I reflect the amount of HST in opening balance of Clients and vendors? Thank you

How can I clear out the accumulating balances of HST Collected & ITCs that have resulted from several sales tax adjustments being made over the last 6 months? Scenario: Tax was not filed in QBD since June 2022. When I went back to file the taxes, I saw the generated amounts were different from what was actually filed with the CRA so sales tax adjustments were made. This happened in each month following. And each month, the adjustments needed to match the actual filing with CRA were larger and larger. Now, I am trying to file the sales tax for December in QBD but the amounts on lines 103 and 106 are grossly inaccurate. Example: The actual HST collected for the month of December is approximately 62,000 but the tax agency report is showing HST collected to be 1.2 million (which is the cumulative balance of adjustments over the last 6 months).  If there is anyone who has fixed this problem before, your help now would be greatly appreciated!! Please and thank yo

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In my GST/HST Payable account, I see a 2021-12-31 balance of -101.96 But when I go to the Sales Tax page and go to file, it says I owe 715.76 for the same period end. I believe this problem may have started several years ago when I switched from QB Desktop. How is it possible for these balances to not match? Does this happen when I post directly to the GST/HST Payable account, such as when paying import duty/tax to a customs broker? If so, how do I ensure these amounts are incorporated? And how can I post a single adjusting transaction to make the report match the account balance?

Tax rate - Canada 13% HST.I have used Wave Accounting, In which you could manually Override tax calculated on a single expense transaction and enter the amount paid. **Not looking for Sales tax adjustments from Tax tab** Or "How to Manually add Tax rate". Please understand the question. Eg. Utility Bill Amount is $1081.69 (Is Discounted Rate).Actual HST Paid is $148.18(Calculated Bases on Original Price). Many Organizations charges 13% HST on before discount amount.  - So if I Select HST Applicable for the transaction then the HST calculated in quickbooks bases on 1081.69 will be 122.44. I need to enter 148.18 HST amount for that transactionHow do I adjust this. And every month I have Multiple transactions are like this.?

I sell my product at TheBay.com. I have to remit the GST they collect on my behalf. When my statement comes, the GST amount does not always match the price x GST ($119+15.47 (ON GST 13%). It will sometimes be like: $119 + $12.38 ON GST, which isn't 13%. Here is the explanation: "When a customer spends a certain dollar threshold they will get money off their total basket (E.g: $20 off $100, $50 off $200, or $100 off $350)You do not need to make any pricing offer adjustments in Mirakl for this promotion as Hudson's Bay will be covering the cost of the discount to the customer ($20, $50, or $100). However, please note that you will be responsible to cover the difference in tax from the purchase.  For example:Your item - $150Another item - $50Sale is $200 so customer gets a $50 discountYour item - $125 (ON tax - $16.25)Another item - $25 (ON tax - $3.25)TOTAL CUSTOMER PAYS - $150 + $19.50 tax I do not see the discount or

I switched from Wave to Quickbooks and my first pay period in QB runs from Dec 23 - Jan 5 with pay due on Jan 6. QB does not have my employees hours worked for the period prior to Dec 23 and so it is not calculating the additional stat holiday pay.  How can I add this to their pay? Thanks for your help!