Hi! Kerry here, from MyQuickBookKeeping. My GST return is due so I thought we’d prepare
it together. The first thing I do before starting any submission
to the government is to ensure all my accounts are up to date. I do this by reviewing my balance sheet on
the last date of the period we’re doing a return for. For example, for me now, that’s May 31st. I’ve made a previous video to show you how
to run your balance sheet. So if you’re not sure how to do that, you
can select that video in my channel below. As I’ve already reconciled everything, we
can go the screen and complete the return. Before I start, I always run balance sheets. So we pop in the Reports and I have this,
one of My Custom Reports. We’re going to need to run it for the period
that I’m doing a return for. So that would be, 1st of March to the 31st
of May. Here we go. I run that report. I scroll down and have a look and see what
the GST payable is. For that period, it is $135.56, so I make
a note of that on a piece of paper. Then, I select sales Tax on the left hand
margin. You can see here Receiver General, the one
that has come up. There’s also an option here for Minister
of Finance, which is PST. But today, we’re filing the GST return so
this is the one that I want. So the Next return to file here is the one
beginning the 1st of March, it doesn’t have the correct ending date. Going to pop into Prepare return. I’m going to change this end date to the
31st of May. Here it is. And here we go. The amount is exactly the same as what we
wrote down from the balance sheet. It’s just always a nice double check to
make sure you’re in line. So now here, we have a breakdown of tax collected,
tax paid and the amount that is due. So we now mark as filed. So all done. This will mark my return as filed and close
the books for the period. So I’m going to Continue. Now, we need to file that return with the
Receiver General. And I’ll actually do it on the CRA website. So let’s open up this return so we have
a little summary. This is the information we’re going to need
to enter into the website. This is the Government of Canada website for
GST/HST NETFILE and I’m ready to file. So read through these points here. Make sure they’re all okay before you click
continue. Then you come up to the screen where you enter
your business number, access code and reporting period. I’m not going to film those bits. I’m just going to do them and then we’ll
move to the next screen together. So after entering the information about your
particular business, you come to this screen where you are able to enter in all of the
information from the return we just prepared in QuickBooks. Once you’ve done that, make sure that the
amount here at the bottom agrees to the amount that we’ve written down on a piece of paper
and it is the bottom of your sales tax return. I’m just going to do that right now. Now, let’s press calculate. Here, we have the same $135.56. Yes, I will make a payment within the next
five days and everything is accurate so I submit the return. And now, the return is filed. We still need to go and make a payment though
so I don’t know if you’re either going to do that online or if you’re going to
be able to do that through internet banking. But one way or the other, that payment still
needs to be made by the due date. As you can see here, mine is the 30th of June. If everything has been set up properly in
your QuickBooks Online file, then that should be a very smooth exercise. If not, we can help. I’ll also be adding a video to show you
how you can set up products and services in your QuickBooks file that will help you to
keep your taxes in order. If you’ve watched me post imported transactions
in a prior video, you’ll see how that can make life much easier. If you like to sign up for QuickBooks, you
can do so using the link below. If this has been helpful, be sure to click
Like and Subscribe to my channel. If there’s anything else you’d like to
know about, please make a note in the comments below. My next video could be for you. Cheers!