Taxes

QuickBooks records HST refund receivable as HST suspense. I would rather it showed up on our balance sheet as an asset receivable. How do I make this change? It seems I can't add a current asset account either.

I filed this quarter's sales taxes only in quickbooks but noticed i miss a large invoice. Need to input invoice than file.

Since GST is calculated automatically on a transaction I don't know how to include it as GST only without being attached to a payment. Thanks for any help?

I switched from expense account to COGS for items I buy then use on job site.

With the pandemic, I got very behind in my tax filings last year. I did not have time to get my books in order, so I pre-paid the CRA and was assessed for my Q2 and Q3 HST returns. I will return and complete my filings once my books are in order. I had time this month to work on things and since Q4 HST is now due, I decided to file this one first to avoid penalties, and then will return to file Q2 and Q3 after. I can't seem to find a way in QBO to record a filing for any period except the next unfiled one -- Q2 in my case, since I was all filed up until Q1 only. I am able to generate the report for Q4 just fine and should be able to record installment payments, but cannot record that the actual filing has happened. I'm concerned that if I go back and file my Q2 and Q3 (in order), I might come back and find that when I am able to record the Q4 filing, the numbers will differ slightly from what I actually sent to the CRA. I have saved a copy of the Q4 report as of today, so I should be a

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How to setup GST

I guess this is a bit of a 2 parter question. I am a new business owner (sole proprietor) and new to bookkeeping/QBO.   I take a 50% deposit from customers which goes towards the purchase of supplies for their project. When I do this, I create an invoice and enter the amount received in the deposit box on the invoice.  I then send the customer this invoice with a note saying to disregard the review and pay option and I will resend the invoice upon completion of their job.  I will set the invoice due date to the expected date of project completion so it does not show as overdue.  QBO does not have a great system for deposits and I wish this was different - but I am open to alternative options/suggestions! I have just recently started doing it this way and as I am coming up to the end of this quarter - I realized that it is recording my taxes owning to include all those I have taken deposits on since I have them as open invoices (taxes ow

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Even when I select tax exempt ( on the GST payment) it will not let me credit it to the GST payable account. Anyone else have this problem?

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how do you account for the taxes on a purchase when the owner uses his own funds

Even after you select the GST(purchase) after posting the bank feed transaction it still overrides your selection and puts it in the sales.

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I have a large invoice with multiple line items (all with the same product/service). This service is charged sales tax (HST), which is 13%. When I do a manual calculation of the total HST to be collected, the total is 6 cents lower than what QBO says it is, so I have to manually adjust it. I have never seen QBO do this before.

Can anwers be default to 2 decimal points when doing calculations in the Sales Price/rate box when entering inventory? It returns 8 decimal points now

Hello, I need helpWhen I try to assign a Tax to a Item I get the following error using SDK:There is an invalid reference to QuickBooks CreditMemoLineItem SalesTaxCode "80000002-1409997673" in the CreditMemo line. QuickBooks error message: You can't set taxable if Sales tax is turned off or the item is not a taxable item type. In My Taxes preference is turned On  

Hi Everyone, We purchased a commercial property and we want to show the HST paid we paid on Line 106 as well as Line 205 of the GST/HST summary report. Any idea how we can input the amounts in the correct accounts so the values show up under Line 106 Input tax credits (ITCs) and Line 205 GST/HST due on acquisition of taxable real property? Creating a long term asset entry with HST will show under line 106 but not sure how to show it under line 205 for the GST/HST summary report. Can anyone help me out? Thank you

Previous Bookkeeper/Accountants never cleared out payroll liabilities in Quickbooks Desktop, so there is a major blemish on the current Balance Sheet. How do I clear out old unemployment and FWT liabiilities from 2013 and forward? I know we payed all of the taxes but I don't have records of the specific payments older then two years ago. 

When entering sales tax paid in QB desktop I also make an adjustment for the discount givenfrom the state. I have made this same entry for the last 2 months. For some reason when Inow enter it, the sales tax discount amount is not reflected on the check register. Normally It would show the amount as a split transaction ( ex: $1909.00 sales -$26.00 discount.) .Please advise.Thank YouBarbara G.

they don't balance

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On the left bar, upon selecting "TAXES", I get two boxes. One is Canada Revenue Agency, and one is BC Ministry of Finance. CRA is correct, but BCMOF is all zeros. Yet when I run a report for PST the information is correct. Can anyone help me get the PST info show up as it should when I select "TAXES" Thanks

My business has some exempt sales. We have also gotten things like CEWS during the pandemic. These things go through the company as revenue and therefore should be on the HST filings. However, QBO only tracks sales with HST assigned to it. I have tried setting up new tax rates, adjusting existing tax rates, and making a new tax agency all together. None of these things work. Any suggestions?