posting GST payment question

Hello,

My year end was July 31 and I have my GST payment from April to June to post, but I made the Payment at the bank Aug 4.

Can I still post it in July or will that cause problems and I will have to post in Aug.?

Any advice would be great. Thank you

Parents
  • 0

    I usually post the GST amounts by using a payable invoice as of the end of the period, then record the payment like any other payable, on the cheque or EFT date.  

    This makes it more clear when reviewing the GST account, that the amount owing as of June, was paid August 4.

    If an adjustment, reversal, or correction that affects GST is made after the June return is filed, even if it's August 4, it's easy to see on a G/L report (sorted by transaction) up to the end of June.

Reply
  • 0

    I usually post the GST amounts by using a payable invoice as of the end of the period, then record the payment like any other payable, on the cheque or EFT date.  

    This makes it more clear when reviewing the GST account, that the amount owing as of June, was paid August 4.

    If an adjustment, reversal, or correction that affects GST is made after the June return is filed, even if it's August 4, it's easy to see on a G/L report (sorted by transaction) up to the end of June.

Children
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