What is the correct way of recording a HST refund cheque in sage 50
Hi Vance,
You can follow the KB article link below for how to record HST refund.
10754 How to record a GST/HST refund from CRA?
Hope this helps.
but Keith, only option 2 allows you to (a) record an invoice to be 'paid by the CRA' at a later time, and (b) allow you to include the refund cheque in a bank deposit
but Keith, only option 2 allows you to (a) record an invoice to be 'paid by the CRA' at a later time, and (b) allow you to include the refund cheque in a bank deposit
Hi Roger L,
You are correct, but all 3 methods can generate the journal entry which zero out the GST/HST charged on sales and paid on purchases, and debit the bank account.
If users want to do more than just that purpose, it will be up to them to decide which method suits them most.
*Community Hub is the new name for Sage City