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How to Enter a Bill for HST and or GST only in QBO

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

 

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