QuickBooks uses sales tax items to calculate the sales tax on transactions and associate the tax with the correct sales tax agency (e.g. Receiver General). Then, the calculated sales tax tracks to the liability account for that agency (e.g. GST/HST Payable). Add sales...
Smart features made for your business. We've got you covered. See how it works Firm of the Future Expert advice and resources for today’s accounting professionals. Explore Content QuickBooks Support Get help with QuickBooks. Find articles, video tutorials, and more. ...
I would like to ask you an additional question: I am trying to complete the CO-17 form for an inactive corporation in Quebec, I found the following on the Revenu Quebec website: If the corporation has been inactive you have to add to the declaration a balance sheet indicating its ...
Watch the video below to learn how to categorize your expenses and add sales tax in seconds.Here’s how to easily calculate sales tax in QuickBooks Self-Employed: First, open the QuickBooks Self-Employed app on your phone. The app asks you if you need to file GST, PST, or HST on the...
To calculate net tax for quarterly or annual GST/HST returns, you should take the following steps: Add up all the GST/HST you collected over the reporting period. Determine how much GST/HST you paid on business purchases. Subtract what you collected from what you paid. The difference is yo...
Get QuickBooks Smart features made for your business. We've got you covered. See how it works Firm of the Future Expert advice and resources for today’s accounting professionals. Explore Content QuickBooks Support Get help with QuickBooks. Find articles, video tutorials, and more. ...
Lack of financial control and difficulty tracking expenses: Because you run the business on your own, you may not have enough time to track and separate business and personal expenses. However, QuickBooks Self-Employed (QBSE) can help with easy expense tracking, as well as automatic receipt org...
Enter the Tax name as 'HST 7.5% Liability.' Select the I pay this on purchases box. Enter the Tax on purchases rate as 7.5%. Select Liability from the Account drop-down. Select Input tax credits (ITCs) from the Show tax amount on return line drop-down. Select Add. ...
There's a possibility that the Automation feature is turned on, that's why you're able to see a reduction to the receivables reports in QuickBooks Online. It would be my pleasure to help walk you through the steps on how to check the settings. Here's ...
There's a possibility that the Automation feature is turned on, that's why you're able to see a reduction to the receivables reports in QuickBooks Online. It would be my pleasure to help walk you through the steps on how to check the settings. Here's...