GST/HST Returns

Zoho Books helps you in filing and recording your GST/HST returns for your business based out of Canada. GST/HST Return report is generated with respect to the lines that are given in the Canada Revenue Agency’s GST/HST return filing form.

In the next few steps, you will learn about the following,

GST/HST Settings

For ease of access to the settings page, click on ​​GST/HST Return Settings present on top of the report table.

GST/HST Settings Shortcut

Clicking on that link will open this pop-up,

GST/HST Settings

Generating your first Tax Return

The process of generating your first Tax Return is really simple in Zoho Books. Navigate to Reports > Taxes -> ​GST/HST Return to access the report.

First GST/HST Return

P.S: Please note that after generating a return, tax return settings cannot be modified. However, if you wish to update the settings, you will first have to delete all the generated returns.

​GST/HST Return Details

Click here to know more about ​filing your ​GST/HST Return ​line-by-line.

Generated Returns

You can also make a deep dive into the numbers that are shown in the boxes. Just click on the amount shown in the ​lines and you will be able to view the details related to that box.

Returns drill down

GST/HST Returns List

Navigate to Reports -> Taxes -> ​​GST/HST Return to access the report. You can use this GST/HST return report from Zoho Books as a reference while filing your ​returns.

GST/HST Returns List

The Status denotes whether the GST/HST return is filed or not. The Balance Due will state the amount that has to be paid/claimed towards your return. You can generate a new GST/HST return report only after filing the pending GST/HST return. Also, the most recent report generated can be deleted by clicking on the Trash icon.

Recording Instalment Payments

If you are a business owner who files your tax returns annually, and your net tax is $3000 or more, you may have to make instalment payments to the Canada Revenue Agency.

Prerequisites:

These payments can be recorded seamlessly using Zoho Books. This is how you do it:

Instalment payment button

Instalment payments can be made only when the

Instalment payment popup

Instalment payment drilldown

You can also record an instalment payment from the Accountant module of Zoho Books.

To delete an instalment payment, click on the Payments History tab under Tax Payments, hover your cursor over the entry, and click on the Trash icon, as shown in image below:

Delete Instalment payment

Adjustments in GST/HST Returns

The GST/HST returns allows you to record adjustments in the corresponding ​​lines of your tax report. You can record adjustments by clicking on Adjust against a line and filling out the fields in the pop-up as shown in the image below,

Return Adjustment

Finally click on Apply to finish recording the adjustment.

Note: All ​adjustments made here will be listed under Accountant -> Tax Adjustments section. You may also delete the adjustments by clicking on the Trash icon.

Including previous transactions

There might be a case wherein you want to record a transaction in Zoho Books for the previous GST/HST return but the GST/HST return for that period has already been filed. In this case, you can record the transaction for the previous date and file it with the current GST/HST return filing.

If you have not filed your GST/HST return yet, you will have the option of including transactions from the previous period in your new return. To do so, click on the checkbox against “Include previous period’s unfiled transactions” and hit OK in the pop-up that follows to confirm your selection.

Include Previous Transactions

Previous Transactions Confirm

Your new GST/HST​ report will now include your previous transactions beginning from the date selected while setting up GST/HST Return.

Note: You can generate returns based on your organization’s accounting period(Financial Year). For example, if your organization’s accounting period starts in April and you choose to generate a return on a Quarterly Basis from the month of July, the report will be generated for the next quarter(July-September).

Mark GST/HST Return as Filed

After filing your ​tax returns with the tax agency using the reference from the GST/HST Return reports in Zoho Books, mark your GST/HST return as filed. Currently we do not have the provision to file your GST/HST returns directly to the Canadian Revenue Agency​, but you can always mark them with the date on which you filed them at your tax agency.

Once you select the Mark as Filed option to record GST/HST return under filed status, you will be asked to select the date on which the GST/HST return was filed with the tax agency.

File GST/HST Return

P.S: GST/HST return cannot be recorded as filed before reporting period ends. Once you mark your GST/HST return as Filed, you will not be allowed to edit any transactions that were ​recorded in that period.

You also have the option to print a return by clicking on the Print button. If you wish to export the tax return as a PDF file, click on Export As and select PDF.

Print and Export

Recording ​Tax Payments

Once you mark your return as Filed, you can record the ​payment for it ​using any one of the following steps,

Record Payment 1

Record Payment 2

Record Payment 3

Fill in the fields that appear on the right hand side and click Save.

Note: Please note that a bank account with its base currency in CAD is mandatory to record Tax Payments/Claims. Also, we only support a bank account as Paid Through account at the moment.

Payment History

You can ​view, update and delete payments made in the payment history for the returns filed by heading to Accountant -> Tax Payments -> Payment History.

Return Payment History


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