How To Process A PST Return

What you need to know: 

A Provincial Sales Tax (PST) Return is used to report PST collected on taxable sales and remit those amounts to your provincial tax authority. Depending on your province's requirements, PST returns may be filed monthly, quarterly, or annually.   

The PST return includes PST amounts recorded through transaction entries and general journal entries within the reporting period.  PST paid on purchases is typically included in the cost of the related expense and is generally not claimable. However, the return tracks the PST collected on taxable sales made by your business to help determine the amount that must be remitted to the provincial tax authority. 

What you need to do: 

  • Ensure your PST registration number is entered into the system. 

  • Confirm that your PST reporting period is set up correctly. 

  • Complete all your sales and purchase transactions for the return period. 

How to (Step by Step): 

To complete a PST return: 

  1. Click Taxes. 

  2. Select PST. 

  3. Click Process a New PST return. 

  4. Verify the Start Date and End Date are correct. 

  5. Ensure a contact has been chosen in the Summary section. 

  6. Verify the numbers in the Revenues and Balance sections. 

  7. Click Review to view all the transactions that are being fed into this report. 

  8. Once you are confident the information is correct, click Complete PST Return. 

 To print a PST return: 

  1. Click on the three vertical dots on the line of the report you wish to print. 

  2. Select Print report. 

  3. Click the Printer icon. 

  4. Confirm your printer settings and click Print. 

 To reverse a PST return: 

  1. Click on the three vertical dots on the line of the report you wish to reverse. 

  2. Select Reverse return and confirm by clicking Reverse return. 

    Note: Once you reverse the newest PST return, you can then reverse the next most recent return. 

References and Additional Resources 

Still have questions? Contact support  

Contact us at 1-800-667-7893 or email support@fccagexpert.ca if you require additional support. You can find other help options under the Question Mark Icon in the top right of AgExpert Accounting at any time.