Processing your QST return

You must file a QST return for each reporting period if you are a registrant even if you’re not expecting a refund or have no amount payable. In Québec, the GST and the QST are both administered by Revenu Québec.

Update your business tax information

Click on the people icon on the right corner of your screen and down to Business information.

Under Payroll & Taxes you can set up your QST registration number and the remittance frequency (Monthly, quarterly, or annually). Make sure you enter the number that was provided to you by the Revenue Québec. 

Save and go back to the main dashboard.

How to process your return

Once all your transactions for the period have been entered you can run your QST report. This report will pull all entries for the selected period in which QST amounts were recorded as well as any new entries for previous periods which have not yet been captured by a QST report

Click on QST under the Taxes menu. You are now ready to process a new QST return.

1) Reporting period for your QST return.

2) Summary of what will be posted to your accounts payable or accounts receivable when the return is saved, and which supplier or customer is will be saved under.

3) Total sales and other revenues for the reporting period.

4) Total QST collected, QST paid, and the amount owing or to be refunded as a result of the reporting period transactions. 

5) A summary of all transactions included in the report.

6) Review the list of transactions for irregularities and/or missing entries before saving your return since this step cannot be reversed.

After saving your return, you will be able to view your report by clicking on the ellipsis (3 vertical dots) and click Print report. 

The reports can also be printed or saved as pdf files. Follow the filing requirements as per Revenu Québec https://www.revenuquebec.ca/en/businesses/my-account-for-businesses/

Last updated on November 6, 2020 by FCC AgExpert