Taxes

I'm trying to confirm the difference here, because i'm not exactly sure what the difference is, other than the fact that tax exempt shows up in the taxable summary report (0%) whereas out of scope is omitted. Does it matter which one you use, they are both 0%.  The Income Tax Act has a discussion about zero rated vs exempt, but I dont get the purpose of out of scope. I used exempt for GST on imports, but this kept showing up in the taxable sales summary, so I changed to out of scope.  Neither changes the ITC, but I wanted to do this correctly. Also, for hotels and purchases during a business trip to the US, I marked all of these as exempt, because it was for business and I figured it should show up in the report. Is there any reason to use out of scope?

The BC  PST is not tracking to the tax centre but is in Account2552 anyone had issue with this 

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Hello everyone,  I am looking for a solution to correctly record the taxes for liquor purchases/expenses in BC. There is a category/group for this already set up and it used to work perfectly (5% GST and 10% PST were applied), but now it just reflects the Standard category/group (5% GST and 7% PST). I tried setting up an additional tax item with 10% PST and adding it to the tax group which worked, but that changed all PST percentages, including the existing 7% PST item in the Standard category. I am sure I created a new item with 10% PST and did not change the existing 7% PST item. How can I create a tax item or group which will apply 5% GST and 10% PST while not changing any other tax item?

I'm in B.C. and my company provides consulting / management services. I charge a monthly fee plus an administration fee. The clients are in B.C.  Do I charge BC HST on both charges or just on the consulting fees? The admin fee is typically $500/mo on top of the consulting fee and is basically a fixed fee that covers a portion of office costs - office supplies, Internet, specialized software licenses and maintenance, phone, fax, specialized equipment that I supply as part of the service, etc.  Any help would be much appreciated.

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The sales tax bulk update was GST/PST BC. If I edit the transaction and change the sales tax setting to GST for example, the transaction corrects itself and shows the proper amount. I do not know if this PST situation existed for transactions prior to the sales tax bulk update.

How do i delete a report that has been created in sales tax. Nothing has been paid and the previous bookkeeper entered incorrect information. I need to change the filing frequency and run the tax reports and get them paid. These date all the way back to December 2019. She ran 3 reports and entered them as filed but they were not filed. 

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Due to this there is a difference between the balance payable too.

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Hi,  I am trying to keep a record of how much HST or GST I have paid so that when it comes to file for GST or HST it can be east.  My question is:  Is there a way to mention or detail the HST & GST portion of each expense in:1- Journal Entries2- Bills

What is the difference between inclusive and exclusive taxes?

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How to memorize filters in all sales

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Hello, I am trying to figure out the entry for the GST paid separately to CBSA.  I basically receive 2 bills from the customs broker.Bill #1 - Entry fee and gst on entry fee - entered as a payable and paid to customs brokerBill#2 - GST on imported items - paid to CBSAThis is the entry that I cannot figure out - it will be Crediting Bank and debiting what?  The GST on the imported items has not been entered anywhere in order to debit it??  Its not an expense so where does it go?  If i enter it as a Bill - Debit GST payable credit Accounts payable - then pay the bill Debit accounts payable and credit bank - the GST amount is still sitting in GST payable?   Im super confused!!!!

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In Feb. I followed QB instruction article to create a liability account for customer deposits, and a product/service item linked to that liability account to process the deposit.In Feb. I issued a sales receipt for the $1,000 deposit received. I did not charge sales tax per my understanding of CRA rules, so the sales receipt was tax exempt. This sales receipt does *not* show up on Feb. sales tax reports/taxable sales summary.In May I invoiced for the job and used the service item to credit the customer deposit on the invoice. This service item is tax exempt as it needed to be to issue the sales receipt without collecting tax. The invoice shows the correct, full amount of sales tax calculated on the subtotal before the $1,000 deposit was taken off, so that all looks good.My problem is that when I print the May Taxable Sales Summary report, it shows a net sales of $X (same amount in GST and PST sections, which is correct), but it also shows an exempt sales amount of $1,000 in the GST sec

We are a construction company and so do not charge pst on sales. However we do have an occasional out of province purchase that does not have pst included. We need to self assess the pst amounts on these invoices. What is the best way to do this in QBO. I cannot seem to find any information on this. Thanks

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The GST cheques weren't received until 2020

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I am entering gross sales by month from Stripe into a Stripe Bank account I created as a Deposit (using Desktop Pro).  Stripe Online is the vendor, Sales Stripe is Sales Income - I need to break out the taxes (multiple tax % due to diff. provinces). How do I do this? I have then been transferring the payouts via general journal as Stripe Bank credit, Bank account debit (into the actual bank account) to keep track, as there is always an ending balance from month to month and I need to be able to show this, hence the Stripe Bank account creation.