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About shtewps

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  1. 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:
  2. Geez really? Can you post some screen shots?
  3. Awesome! Thanks so much for updating this thread with that info. How is the issue fixed? Can you now choose liability accounts under the "sales tax paid" option or does it just create an account for you and automatically tally the on-going taxes paid like in the earlier releases of this software
  4. So I managed to create a new liability account ("sales tax paid 2c") and have it show up on my balance sheet. However the managing of accounts is not automatic and I think this is where the bug lies. I created the new liability account but in my tax option I am still not able to select a liability account under "sales tax paid". I can still only select expense accounts (pointless as they dont show up on the balance sheet and deduct from your HST owing to the gov't). When I go into the journal and manually change the tax paid on a certain transaction to my new "sales tax paid 2c" liability
  5. If I change "sales tax paid 2B" to a liability account, I am unable to select it within my tax options as the default sales tax paid account. Therefore Express Accounts will no longer calculate my taxes paid under "sales tax paid 2B". I think this is where the bug lies - Regardless of what the proper account type should be or how express accounts handles them, I am unable to select a liability account (like I used to be in the older versions) from the tax options for sales tax paid. Under sales tax collected, you can definitely still choose liability accounts. I think technically the tax y
  6. Great suggestion there, thanks! I went ahead and created a new expense account to use as the "new" sales tax paid account. I also set it as the default linked account for "sales tax paid". Not too sure if this is necessary or not, but sounded right. Then I went into my tax settings and under HST, set the "sales tax paid" option to the new "sales tax paid 2B" account. Then I went and created a dummy purchase payment to see if the sales tax paid in the new "sales tax paid 2B" account would be shown on the balance sheet. The bad news is that "sales tax paid 2B" does not sh
  7. Thank you so much for the reply here. It's really appreciated. In the older Express Accounts version, both tax collected and tax paid pulldowns showed the same accounts. When I first started using express accounts I guess it automatically created both of these tax accounts as liability accounts and in the recent version they changed sales tax paid to be an expense account instead of a liability account. What I'd like to do is fix the problem at the core. When I run a balance sheet is shows me all of the tax I paid vs. the tax i've collected and shows the difference as a liability which is
  8. I updated Express Accounts and it seems that I can no longer track the sales tax that I pay on expenses into my "sales tax paid 2" account. In my previous version express accounts would record a running total of the HST I have paid under 'sales tax paid 2' (2 being for the second year in business I guess) and when I run a balance report it would show sales tax paid 2 on the report as well as sales tax collected. Now when I process expense payments it just keeps track of the HST I paid under some random other account and when I go to "options > tax > HST" and then "sales tax paid", I
  9. 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.
  10. After updating to the latest version of Express Accounts; When I go to look at old invoices or receipts, the tax name (which would normally read "HST") seems to be missing. The tax value still shows and the totals are correct, however the tax name has just vanished. If I create a new invoice (with the new app update) the tax name seems to show up again. Apparently it just wont show for anything older. Is this normal? If not, would one know how to fix it?
  11. Thanks a lot for the information! Although I'm having a bit of trouble finding that option.. Could you elaborate a bit more as to where it is? Ive checked the navigation panes and context menus but dont see anything related to a transfer. EDIT: My app was a few subversions out of date. After installing the latest 4.62 I can now see the option. Thanks again!
  12. What is the correct method of transferring money from your checking account balance to your petty cash balance?? Thanks in advance!
  13. Hello, Thanks kindly for your reply. Sorry for not being clear, but by cost; I did not mean the price of an item. I meant the actual cost of the item to the company (prior to resale) whereby Express Accounts is able to use that value to show actual profits. When you create an item, you can set its price.. and cost (which is unknown to the customer) I am looking to able to set the cost to items that I arbitrarily add to invoices that have not been pre-determined. It seems I can add any other value to these 'on the fly' items but the cost. Cheers
  14. Hi there, I would like to know if its possible to add a cost associated with a non-generated item that you enter on a customer's invoice. For example, I go to invoice a customer and add invoice items that I have not previously set up a name, cost or price. It seems I can enter any information I want in the invoice except for a cost unless I have already created this item. My business has many variable costs and services which will change almost between every customer. It would be very helpful if I could just add our cost of that specific order to the invoice on the fly instead of maki
  15. In case you havent found a solution to this issue, here is how you edit the balances of any of your accounts. I was having the same problem as you and noticed that other people were as well. This worked great for me as I was able to edit any account and bring everything back to $0.00 balances without deleting the business profile which I had already created! 1. Find out which accounts are still reporting an open balance (even though you have deleted any applicable invoices) - Reports > Balance Sheet... > View 2. If any of the items listed in this report are showing a balance, no
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