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Skeksis
Level 1
posted
‎January 16, 2022 10:24 AM
last updated ‎January 15, 2022 3:24 PM

7A Deferred GST liability

I have just taken over book-keeping for a company with 7A deferred GST Liability.  I have read the (ONE) article in the help regarding how to post the liability which does not cover the following questions

1. How to turn on label 7A for the Quickbooks GST report

2. What is the recommended method to record the input tax credit for the same amount as the ATO deferred tax charge.

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1 Comment 1
IntuitSheila
Level 8
‎January 17, 2022 11:04 AM

7A Deferred GST liability

Welcome to the Community, Skeksis.

 

It's good to hear you were able to find a related article about posting deferred GST in QuickBooks Online. At the moment, we're unable to turn on the label for 7A for deferred GST in the GST report. The feature you're looking for is unavailable in the current GST set up in QuickBooks Online. Deferred GST is currently very rare, just like a WET tax, due to the low demand, this is why it is not supported. I can lodge feedback to our customer feedback system to let our Product Development team know. And hopefully, this gets added in the future release.

 

As a workaround, you can record a deferred GST liability using the steps attached to this link Record a deferred GST liability. Or it's also recommended you lodge BAS directly to the ATO portal.

 

Stay in touch if you have other questions regarding QuickBooks Online. I'll make sure to get back to you right away. Have a nice day!

 

 

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