Located in Quebec, and erred in handling a PST Refund and GST Payment using the automatic Filing Features.
Program correctly created a REFUND invoice for $300 for my PST (2nd quarter), along with a PAYABLE Cheque for $1200 for GST Payable.
Problem is my actual payable was the net diff of $900, so I voided the $300 Invoice and simply modified the Payable cheque by entering a PST PAYABLE with a negative $300. Gave me a $900 cheque.... I was happy until the 3rd quarter came along.
Now I quickly processed 3rd quarter, and realized afterwords that my entries affected my PST (falsly increasing it by $300 because of what I entered).
I recalculated my 3rd quarter payments (and paid only what I really should have for both GST ($850) and PST ($400). But QBook still has the inflated amount of $700 for my PST ($400 what I really owed plus last quarters $300 that was erroneously picked up).
1)I know I need to do an adjusting entry now (for $300 PST??) just not sure easiest why to do so and which accounts I must adjust in Quickbooks.
Can anyone help... Thank you.
|
