Recording CBSA Assessed GST as ITC?

by Julia
(Burnaby, BC)

How do you input a Canada Border Services Agency invoice?

How do you input a Canada Border Services Agency invoice?

Hi, I'm having trouble figuring how to record GST assessed by CBSA (Canada Border Services Agency) on goods imported.

We purchased the items as supplies (not being resold) from the US. No GST was applied to the vendor's invoice. I entered the invoice as supplied and recorded the purchase to the US firm and our subsequent payment. Once goods arrives at the border, the CBSA assesses GST on the items and issue us their invoice for GST and duty on the imported goods.

My question is how to record the GST assessed with QuickBooks so the GST we pay is tracked as an ITC? I know that posting to GST Payable isn't recommended and when I try, I get a sales tax exception. Normally with Canadian bills, the GST is calculated automatically and is treated as an ITC and appears automatically on the Sales Tax Report. Any advice you have would be most appreciated.



section divider



Hi Julie,

Enter the CBSA invoice received as a bill. I would select the same expense category as your original purchase with a zero dollar value and a GST sales tax code. In the description field, I would reference the invoice number and date of the U.S. purchase. If there were any additional fees invoiced, entered these as well. Then I would tab down to the GST input field and manually input / override the amount of the GST assessed. Save the transaction.

To be sure everything was booked the way I wanted, I would reopen the transaction and take a look at the transaction journal for the entry. (How you open a transaction journal differs for desktop vs the online version.)

When you are ready to pay the CBSA invoice, do so through Pay Bills.

Click here to post comments

Join in and write your own page! It's easy to do. How? Simply click here to return to Learning QuickBooks.

Share this page:
Enjoy this page? Please pay it forward. Here's how...

Would you prefer to share this page with others by linking to it?

  1. Click on the HTML link code below.
  2. Copy and paste it, adding a note of your own, into your blog, a Web page, forums, a blog comment, your Facebook account, or anywhere that someone would find this page valuable.

Enjoy A Tea Break With
Me Today. Let's Chat!

Use the search feature to quickly find the
information you're looking for.



SHORTEN
Your Learning Curve!

 



Warm up your tea cup and check out these chats ...

Click on image above to read the chat.








Join Me On Facebook

Help support this site by "liking" me! Here's where I post current information.

Listed Under Websites NOT Local Business.
This website is NOT associated with the business operating in Bonnyville AB.


A Handy Reference