shtewps Posted April 30, 2013 Share Posted April 30, 2013 I guess this is more of an accounting question but Im curious as to what I should be doing in express accounts after I file the taxes for my business? For example, how do you handle the HST remittance that you pay back to the gov't? (Canada) Thanks kindly for your help. Link to comment Share on other sites More sharing options...
Palern Posted August 9, 2013 Share Posted August 9, 2013 I would like to know the same thing, but no responses here Link to comment Share on other sites More sharing options...
N_C_H_OMG Posted August 12, 2013 Share Posted August 12, 2013 I'm not sure what specific things you want there. You may try 'Fiscal year End' and 'Closed-to-date' features in Options -> General. Look in help for these topics in Options. Link to comment Share on other sites More sharing options...
shtewps Posted August 12, 2013 Author Share Posted August 12, 2013 Spoke to my accountant about this. It's actually pretty simple. You'll be adding CRA as a Supplier and when you remit your HST you simply create a purchase/immediate payment and choose whatever account the funds are coming from (ie: Checking). For Account Allocation you will be choosing your 'Sales Tax Collected' accounted and from there you will be entering a negative value totalling the amount you are paying back. Also change the transaction type to CR. This will deduct your payment from your running total of Tax Collected (tax owing). Hope this helps! Screenshot: Link to comment Share on other sites More sharing options...
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