[colede1051]

Last year I upgraded my QB from 2007 to 2008 - 2008 QB has a new feature that
Produced GST reports for the government. I, unknowingly ran the program and it calculated the GST owing that I had already paid manually and posted.

What would be the correct journal entry to removie this entry because I'd like to use the report to run my GST in this accounting year but I can't because of this testy $7959.06 outstanding GST balance that keeps showing up?

[ROLCAM]

In my humble estimation QB is a Mickey Mouse Programme.

It is easier to create your own programmes
To deal with your requirements through an
Integrated set of SPREADSHEETS with EXCEL.
You can then have full authority on what you are doing and also correct any problems.

Try it and see how you go.
Let me know if I can help you.
I have been operating such a system since 1984. This was before WINDOWS and also EXCEL.

[morgaine300]

In my humble estimation, QB is a Mickey Mouse program for an accountant, but works fine for a small business user.

And in my other humble estimation, Excel can be an extremely BAD way to keep track of stuff, partly because not everyone is exactly an expert at Excel, and second because it's not meant for the same purpose as an accounting-specific program. I'm pretty good at Excel and I wouldn't want to do a real company on it -- it's fine for just tracking my own income and expenses, and of course for other specific purposes. I love spreadsheets, but they don't serve every purpose.

And third, the person is already using QB and asked a question about what to do with something that is already set up and being used, and probably needs to be getting that done rather than taking the next however many months learning and switching over to something else.

[morgaine300]

Colede, I never answered this because I don't use QB and I don't live in Canada, though I know GST is some type of tax. You'd have to reverse out whatever the program did. It was stupid of it to make an entry when all you wanted was a report. The normal entry for something like that would be to debit the tax expense and credit the tax payable. So you want to reverse that, assuming that's what it did. Unless that's some type of tax that's collected from customers, in which case the original entry would have put it into cash or acct receivable, whichever is the case. But the point is that you need to know what that original entry was and reverse it out. I don't know Canada tax and therefore don't know what it might have done with it.