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Government sales tax refund

GuyDeschenes1234GuyDeschenes1234 Member Posts: 1

Hey ! A real newbie here with a real nebiw question ! How do i record a g.s.t. sales tax refund from government so my balance on my sales tax report goes back to 0 for the selected period ? ex: 4th quarter i collected 429.80$ but on my purchases i paid 539.52$ governement sent me a refund of 109.72$ . tks !

in Accounting Technical Support

Comments

  • EmmaPEmmaP Member Posts: 639 ✭✭✭

    Hi @GuyDeschenes1234! You'll want to head to: Accounting > Transactions > locate the income transaction > for the category select 'Sales Tax Refund from Government' > select the Tax. That should record the refund for the tax!

  • Jay_AJay_A Member Posts: 1

    Hi @EmmaP – I've attached 2x screengrabs where I've tried to do this but it points me back to my Sales Tax which I have created manually. Please can you help me allocate a VAT refund so that it doesn't appear as an income or expenditure? Thanks.

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