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Dynamics 365 Community / Forums / Small and medium business | Business Central, N... / G/L Accounts for Canad...
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Suggested Answer

G/L Accounts for Canadian "Sales" Tax

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Posted on by john.ellis 3,530

Hi:

A Canadian Business Central organization has, in its chart of accounts, G/L Account 24300 for Canadian HST Collected and 24400 for Provincial Sales Tax.

So, in Business Central's "Tax Setup" window, would 24300 act as the Sales account and 24400 as the Purchases account?

Thanks!

John

I have the same question (0)
  • Suggested answer
    Marco Mels Profile Picture
    Marco Mels Microsoft Employee on at

    Hello,

    Maybe this helps:

    Reporting GST/HST in Canada - Business Central | Microsoft Docs

    Thanks.

  • Suggested answer
    Community Member Profile Picture
    Community Member on at

    John,

    GST, HST, PST, and QST (the Sales Tax Types for Canada) are setup by the different Tax Jurisdictions and you could point them to specific GL Accounts. It is not necessary given the Sales Tax reporting that can be printed to reflect the liability to be paid. And to answer the question about the Sales or Purchases, the GL Account is the same for both. You will need to define, as in my example, a Jurisdiction for GST, HST, PST, and QST.

    pastedimage1641248244033v1.png

    Hope this helps.

    Thanks,

    Steve

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