Accounting Finance:GST

GST Worksheet

• Navigate to the GST folder and create a copy of the GST worksheet. Paste in the corresponding year's folder. Rename original worksheet to month GST is being prepared for.
• Enter values for GL 122500 and 122000 in correct columns for current month. Add GST received in column E
• Enter GST deposits/payments made in the month in the correct column (column I/K)
• Update and drag formulas in the bottom section of the worksheet to the current month's cells. Enter the year to date values for GL 122000 and 122500. Discrepancies may be due to late receipts/entries of GST received/paid. Check the next period to ensure. If so, enter timing differences into the adjustment cell.
• Ensure totals for Current and Year to Date Sections match

CRA Netfile

• Once worksheet is complete and totals match, navigate to CRA Netfile Website
• Enter the business number and Access code (can find in top left corner of GST worksheet). Enter dates reporting for (previous month). Click 'Next'
• Enter sales figure in Line 101 (same on used in PST calculation)
• Enter current from GL 122500 in 'Line 105'
• Enter current for GL 122000 in 'Line 108'
• Verify total matches the total in the worksheet
• Submit
• Save a copy of the return in the GST folder