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Hello,hopefully a quick question. I have completed my GST return and the government did a reassessment on it and disallowed one of the items I claimed GST for. So now on my AGExpert my amounts dont jive. How do I go about correcting the amount when i go to enter the true refund.Thanks
Hi Vivian,
Go to the Transactions menu > Transaction Entry screen and select Deposit for your type. Basically, you will enter under "total" the actual amount of your cheque and select Receivable Payment for your first line type (and the respective CRA-GST account). In the next window, change the payment amount at the top right to reflect the invoice AgExpert Analyst calculated and select the checkbox beside that GST return. Press OK. Notice that you will be out of balance. Add a secondary line as Equity, press the account picker button and click add account. You will have to add a detailed account and call it GST difference (or another name that suits the purpose). Afterwards select that new account and press OK. The amount should automatically fill in the amount field and your entry will be balanced. Ensure the date and descriptions are accurate and press Record. At the end of the year, the accountant will have to make an adjustment to rectify that difference. Hope that makes sense!