How to Print a QuickBooks HST Report

by David Roberts

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.

Click the "Sales Tax" tab located on the top menu bar of the QuickBooks menu. Scroll down to the "Items List" and click. When the "Items List" opens, hit the "CTRL" and "N" keys to create a new item.

Create the HST item. When the "New Item" window opens, click "Type." Scroll down to the "Sales Tax" tab and click. You need to create eight different items for the HST. Name the first one, "HST Sales." Type this into the "Name" column and add a description to designate the item. If your business is in Ontario, the HST rate is 13 percent. If you are in British Columbia, it is 12 percent. If you do not operate your business in either province, the change to HST will not affect you. 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.

Finish adding all the sales tax items for your location. Since there are only two areas that are affected by this sales tax change, Ontario and British Columbia, if your business is located in another province, the change won't affect you. The only difference between the Ontario and British Columbia set up is in the one percent difference in the rate column. The second HST item will be the "HST Purchases" with a rate of 13 percent (12 for British Columbia) which will be assigned to line 106. All other HST sales tax items will have rates of zero percent.

Add two "Adjustment" items, one for sales adjustments assigned to line 104 and one to adjust the input tax credit to line 107. Add the HST Zero Rated item for untaxable items sold. Add two "Zero Rated" items: One for Sales assigned to line 103, and one for purchases on line 106. The final item to add will be the "HST Installments" for taxes paid with a balance due. This is assigned to line 110.

Print the HST report with the Premier QuickBooks version. You can do this by clicking on the "Reports" tab in the upper menu bar. Scroll down to "Industry Specific" and click on "Sales Tax" reports. The report generated should have all previous sales tax information on it. Click on the "Print" button located in the top menu bar. If you do not have the "Industry Specific" option, that means you are using the "Pro" version of QuickBooks. 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.

Print the HST liability and "Revenue Summary" reports in the Pro Version. You do this by entering the dates you wish the printed report to cover in the upper menu of the report window. Typically, an HST payment is made on a monthly basis. Enter the first day of the month in the "From" box and the last in the "To" box. Click on "Refresh" if QuickBooks doesn't automatically refresh the report for you. Click the "Pay Sales Tax" button and print the result using the button in the upper menu bar.

About the Author

David Roberts has been writing since 1985. He has published for various websites including online business news publications. He has over 11 years experience in tax preparation and small business consultation. He is also a Certified Fraud Examiner. He received a Master of Business Administration from Florida Metropolitan University in 2005.

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