At times we will receive invoices that only charge HST or GST. An example would be a shipping bill that invoices for GST/HST on brokerage and customs. This is the workaround in QBO for this entry.
The item purchased was posted to acct#6562
To post the brokerage and Customs GST/HST do the following:
Step 1. The GST on the customs invoice is $33.96 – Take 33.96 divide by 5% = 679.20. This is the customs amount that the GST is calculated on
Step 2. Post 679.20 to acct # 6562 click on Amounts are “Exclusive of Tax” and select G – the right amount of GST will appear at the bottom of the screen
Step 3. Enter the customs amount again to the same account number – except this time post it as: -679.20 and do not select a tax code – this removes the customs amount as it has already been paid Step 4. The HST on the brokerage bill is $9.47 – take 9.47 divide by 13% = 72.85. This is the amount of brokerage that was used to calculate the HST.
Step 5. Enter the brokerage amount and post it to acct #6562 amount click on Amounts are “Exclusive of Tax” and select HON – the right amount of HST will appear at the bottom of the screen
Step 6. Enter the brokerage amount again to the same account number – except this time post it as: -72.85 and do not select a tax code – this removes the brokerage amount as it has already been paid.
The other 2 amounts on the bill are entered with no HST – the total of the bill is 116.28 and the bottom line shows the correct amount of HST and GST