by Judy
(British Columbia)
I stumbled across your site and have appreciated the wealth of information there.
I am a bookkeeper for a charity in BC. Prior to July 1, 2010 we were able to get a 50% rebate of the GST we paid on purchases. The person who set up our QuickBooks set it up so that I post 1/2 of the GST paid to a GST Receivable account. I fill out the gov't form twice a year to claim the rebate. I'm able to look at the GST Receivable account and know how much to claim back.
When the HST came into practise, I researched quite a bit. It seems to me that now, as a charity, we are able to claim back 50% of the federal portion of the HST and 57% of the provincial portion of the HST. So I set up 2 more liability accounts - the same so the GST Receivable Account I had previously used.
However in my first posting, when I tried to separate the HST into the appropriate Receivable accounts, QB told me that I can only use one Receivable account per transaction.
So...my question is... how do I keep track of the federal and the provincial portion of HST paid in order to fill out the 2 separate gov't forms for the rebate?
Comments for HST Rebate for Charities
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