QuickBooks has a version of the software that conforms to the tax laws of Canada. On July 1, 2010, Canadian tax law replaced the goods and services tax (GST) and provincial sales tax (PST) with the harmonized sales tax (HST). This change affected only the Ontario and British Columbia areas, the key difference being a one percent difference in the rate. Printing the HST reports in QuickBooks will be similar to printing the PST and GST reports. This first HST item should be assigned to Line 103 in the tax return mapping. This is located at the lower center of the “New Sales Tax” Item list. If that is the case, click on the “Manage Sales Tax” icon in the Home screen. When the window opens, look for the “Prepare Sales Tax Forms” and open both the “Sales Tax (HST) Liability” and “Revenue Summary” reports. Writer Bio
