Skip to Main Content
Community Forum Portal/Portail du forum communautaire
Status Answered
Created by AgExpert Support
Created on Aug 13, 2014

Disqus Agexpert Accounting Questions Archive

GST account has a balance, it is from previous years GST cheques not being posted to the receivable account. How do I clear this balance?

  • ADMIN RESPONSE
    Feb 10, 2025

    I would go back and check to see how that cheque was deposited. If it wasn't deposited against Accounts Receivable then it had to have been entered against another account. Once that other account is identified, you can either go back and just correct the original transaction (Check with your accountant first though), or just offset the current year's accounts receivable item against that same account so it all works out in the wash.

  • Attach files