Recording HST Instalments in QuickBooks Online™

November 25, 2020

Are you required to make instalments to your HST account prior to filing a return?  Entering sales tax payments in QuickBooks Online™ requires the use of the Sales Tax page to ensure that your payments are applied to the correct filing period.  Follow these steps to make sure you record your instalments correctly in QuickBooks Online™:

  • Navigate to (sidebar) Taxes – Sales Tax
  • On the Sales Tax page, select the Payments tab –  New – Instalment:

  • Next, enter your instalment payment, indicating the Bank account and payment Date.  Ensure that you specify the correct filing period ending date that your instalment applies to.  For example, if you are making an instalment for your future October – December quarterly HST filing, associate the instalment payment with the filing date of December 31 as this is the last day of the filing period.  This will ensure that when you complete your filing later on, QuickBooks™ will know to apply your instalment payment to that filing period.  In the example below, an instalment of $500 is being paid from the Bank Account on October 15 2020 and applied to the period October – December 2020, which ends on December 31.  Select Record instalment to save your entry.

  • If you are using the Banking page in QuickBooks™, be sure to Match the downloaded $500 bank withdrawal to this entry. Do not Add a new entry from the Banking page as this will create a duplicate.

For help with QuickBooks Online™, BookSmarts is just a phone call or email away, so contact us today!

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