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Categories AgExpert Accounting AgExpert Analyst
Created by AgExpert Support
Created on Apr 24, 2017

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curious how to properly enter a deferred grain ticket. For example if settlement date was Dec 20, 2016 and check date is Jan 1 2017

Do I enter R/P as Dec 20th?
How does this affect the GST that i will process Dec 31, 2016 and Mar 31 2017?

also i purchased land in 2017 what line do i report the land on when in netfile my GST?

  • ADMIN RESPONSE
    Feb 10, 2025

    For the deferred grain ticket, you will enter two transactions. First, a Receivable Charge on December 20, 2016 to record the income, deductions and any GST. Then on or after January first when you have deposited the funds, you can enter that Deposit, offset by an RP line to clear the Receivable Charge you entered on December 201th. The GST will be reported on your 4th quarter 2016 remittance.
    For the land, you will use box 205, down near the bottom of the report.

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