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June 3, 2025
Question

Is the new QBO tax reco tool expected to include a feature to reconcile final payable/receivable balance with the filing period-end balance?

  • June 3, 2025
  • 1 reply
  • 3 views
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1 reply

Moderator
June 3, 2025

The sales tax reconciliation tool helps prepare your GST/HST filings with the CRA or Revenu Québec, PMehta1.
 

It possesses capabilities for managing and reconciling sales tax, including tracking sales tax liabilities and preparing for tax filings. The tool enables this by comparing your total income in your Profit and Loss report to Line 101 (sales and other revenue) of your GST/HST return. If there are any discrepancies, it will show you the entry that causes the difference.

 

Please know that it does not directly support the reconciliation of the final payable/receivable balance against your filing period-end balance. For this matter, you can seek guidance from an accountant or a tax professional to get accurate results that meet your needs.

 

For more information about the sales tax reconciliation tool, check out this article: Using the sales tax reconciliation tool.

 

I've also included an article that can help you organize your sales tax payments in QuickBooks: Manage sales tax payments in QuickBooks Online.

 

Let us know if you have further inquiries about the sales tax reconciliation tool.