I recently created 2 invoices for a customer by mistake (only 1 required) and marked both as paid in the system. My HST 1/4 for these invoices has gone by. I need to delete the payment and invoice for this customer, but still want to credit back the HSt for the next period. Any ideas are helpful. I am using SA50
Canada Recapturing HST
- Thread starter sandyfish
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Steve-LevelUp
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It really depends on how you are tracking HST payable. Typically, when booking an invoice with HST, you record it as follows.
Receivables $1,130
Tax Payable $130
Revenue $1,000
So, if you accidentally recorded the above entry twice, simply reverse the entry. If you already paid your HST for the period, then you can claim this as a deduction and get an tax credit (refund) back for it.
Please let me know if that helps.
Receivables $1,130
Tax Payable $130
Revenue $1,000
So, if you accidentally recorded the above entry twice, simply reverse the entry. If you already paid your HST for the period, then you can claim this as a deduction and get an tax credit (refund) back for it.
Please let me know if that helps.