Accounting Finance:PST-Monthly Report-Remittance

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Overview

Reporting and paying tax means filing a tax return and paying the government the tax you charged on your sales and PST you owe on the purchases you made to run your business.

You must report and pay to us all PST and municipal and regional district tax (MRDT) you have charged, whether or not you have actually collected it from your customer. This includes tax you may have charged incorrectly, such as: at an incorrect rate (for example, you charged 10% PST on general goods instead of 7%) on a non-taxable good or service


We are responsible for submitting monthly remittances Our PST number is PST-1000-9145. A copy of our PST registration is saved in DocView/Licenses.

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Contacts

  • The main contact is the Manager, Finance Nancy Ng. Please direct all questions to the Manager, Finance.
  • PST Helpdesk (8:30 AM to 4:30 PM)
Tel: 1-877-388-4440
Email: CTBTaxQuestions@gov.bc.ca

Generate PST Worksheet

  1. Copy the previous month’s PST spreadsheet into the corresponding year’s folder before starting. Rename spreadsheet to current month.
  2. Log into PST Worksheet PST Worksheet
  3. Navigate to the Sales Calculation Tab. Insert a new column and find the amounts for the GL accounts listed. Drag formulas to calculate sales figure. Enter/paste this amount into the sales column in the Summary tab.
  4. Enter total PST for the month in columns D & E. This amount should balance to the amount in the Subtotal column, which is the sum of the totals for each voucher type. This amount can also be checked by adding the G/L 210700 amount for the period with the previous month's payment (which is included in the transaction enquiry for the current period).
  5. Enter total for each voucher type specified (80-83, 10, 30, 50). Subtract the previous month's payment when entering the AP30 amount (This is usually the largest VT30)
  6. Click on AR-AP-in-out sheet and enter data for voucher type 30 (note the positive numbers are usually drop shipments which are in/out (paid and charged back to the store). Enter values for VT30 in Gl 210700 into the cells for the month that is being prepared (except the PST payment). Enter positive amounts above and negative amounts below.
  7. Enter the following information: Vendor Name, Reference (document Number), AR Invoice (if no AR invoice then enter CHG Stores if noted in text. AR Invoice numbers only for positive amounts)
  8. The total should match total in the Current year sheet
  9. Enter the total for the in/out transaction in the Summary page in columns G and I
  10. Save worksheet
  11. Print the Summary and the AR-AP in-out sheets
  12. Check that:
  • Debit/Credit(columns D/E)= Subtotal column which = Sum of VT's = (G/L amount for period + payment)
  • AP 30 in the Summary tab should balance to G/L for VT type 30 total - Previous Payment. This amount should also balance to the total at the bottom of AR-AP in-out sheet
  • The AR/AP row should balance to the sum of the In-Out transactions

Submit Monthly Report to PST

  1. We are now ready to submit our monthly fees to PST. Log into web browser – go to PST
  2. Enter User ID: 'uniPHARM' and Password and click Login
  3. Click Send Access Code Email (an email with the access code will be emailed to nancyn@unipharm.com)
  4. After obtaining the access code, enter the access code and click login
  5. Click Provincial Sales Tax
  6. Click File Return on the applicable month
  7. Enter Step 1 - Total Sales & Leases (obtain from financial statement)
  8. Enter Step 2 B - PST Collectable on Sales and Leases (Use Sales SO/AR) total)
  9. Enter Step 3 E - Purchase and Lease Price of Taxable Goods, Software and Services (use total on AP/GL row)
  10. Enter Step 3 F - PST Due on Purchases and Lease (use total AP/GL)
  11. Check Step 5 - the Total Amount Due and match it to worksheet
  12. Click Submit
  13. Click Print Return and print
  14. Click Make a Payment
  15. Enter Confirmed Amount and click I hereby authorize....
  16. Click Submit
  17. Click Printand print two copies (save a copy of PDF to folder)
  18. Click Ok
  19. Attached the Return and Confirmation to the worksheet printouts, with the Social Service Tax worksheet on top and forward to Angela Chan for processing.
  20. Forward second copy of Confirmation with the account 21981 write on to Donna Kill for processing.

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