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crempel7
Level 1

For a Charity - can I set up GST expenses to charge 50% to the expense it relates to and 50% to the GST account?

 
3 Comments 3
JamesM
QuickBooks Team

For a Charity - can I set up GST expenses to charge 50% to the expense it relates to and 50% to the GST account?

Hi there, 

 

Glad to have you post in the Community.

 

I want to make sure you get the most accurate answer about this. I recommend reaching to an accounting professional. You can do this by searching for them right from our website. I'd be happy to assist you as far as setting up a GST expense. Let me know if you need help with that. Otherwise, feel free to ask questions. 

KaraB1
Level 1

For a Charity - can I set up GST expenses to charge 50% to the expense it relates to and 50% to the GST account?

I am also looking for an answer for this. has there been a solution?

PatriciaT
QuickBooks Team

For a Charity - can I set up GST expenses to charge 50% to the expense it relates to and 50% to the GST account?

Hi KaraB1, I know how important it's to properly set up your books to record your transactions, and I want to ensure you're able to do so. After you turn on sales tax in the system, QuickBooks not only automatically creates a list of common sales tax code for you but also sets up the GST/HST-QST Payable account to keep track of all sales taxes you collect and pay. You also have the flexibility to Add a custom rate in the sales tax centre by going to the Taxes menu > Manage sales tax > Add custom rate, and indicate the percentage sales tax you want as well as where exactly on your return line the tax amount should be reflected. If you're unsure of what to choose for your setup, I'd recommend talking to your account to make sure everything is set up correctly for your business needs. In case you don't have an account, you can easily connect with one around your area by going to our Find-a-ProAdvisor website

 

For more on how to add new tax codes in the program, here's an article: How to set up a new sales tax code

 

I hope this helps! Have a nice day.

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