Do I enter my business’s GST payments to government as an item on schedule 125

Question

1610 viewsNovember 18, 2020Accounting

0

travis (anonymous) Posted November 10, 2020

I’ve paid our company’s GST collected to the GST/HST revenue canada department: is there a item code and entry for this on the T2 schedule 125?

1 Answer

score 0 · Answer 1 · 2020-11-18T15:20:21+00:00

GST/HST collected from customers and GST/HST payments made to the CRA should be recorded in a GST/HST liability account, which is reported on GIFI Schedule 100, Balance Sheet.

Do I enter my business’s GST payments to government as an item on schedule 125

1 Answer

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