Lucian1
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Joined 2 years ago
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hst and payroll
we had a balance owing to CRA on our payroll acct, so whenever we had a refund owing to us from our GST filing, they would transfer that amount to the payroll acct. to reduce the debt owing to them. Does anyone know how i would go about making that entry in myob? thanks so much for any help18Views0likes1Commentcustomer has balance owing to us but we paid them from that amount for damages
on my balance sheet i have an outstanding acct receivable from 4 years ago i want to reconcile. since we owed client an amount as compensation due to damages, how do i apply the amount customer deducted from the total invoice they owed us?169Views0likes1CommentHOW TO FIX A NEGATIVE BALANCE IN THE WORKER' COMPENSATION PAYABLE. ACCT
HELLO I NOTICED A NEGATIVE BALANCE ON MY BALANCE SHEET FOR MY WORKER'S COMPENSATION PAYABLE ACCT AND PAYROLL GST PAYABLE. THE AMOUNTS WERE ENTERED IN THE WRONG ACCOUNTS . I HAVE BEEN TRYING TO GET INTO THE TRANSACTION BY PRESSING ON THE ACCOUNT NUMBER, BUT IT WON'T LET ME. I CAN'T CHANGE THE DATE OR ANY INFO ON THAT SCREEN. iT LOOKS LIKE THE ERROR WAS MADE A COUPLE YEARS BACK. ANY IDEA HOW I CAN ACCESS THE TRANSACTION IN ORDER TO ENTER INFO CORRECTLY? THE BALANCE SHOULD BE ZERO293Views0likes1CommentRe: transferring balance from CASH DRAWER acct under assets to Director's loan liabilty acct
sorry, but i checked the combine accounts linked you recommended and have a question. It mentioned you can only combine accounts of the same type. would the cash drawer acct (asset)and the director loan acct(long term liabilty acct) be considered the same acct type since they are both on the balance sheet?586Views0likes1CommentRe: transferring balance from CASH DRAWER acct under assets to Director's loan liabilty acct
Thanks so much for the response! So, any suggestions on how to make that entry? Should the cash drawer be "deactivated" or kept at zero balance. What kind of an impact would it have on my balance sheet since all I would be doing is switching the balance from one acct to another?626Views0likes3Commentstransferring balance from CASH DRAWER acct under assets to Director's loan liabilty acct
hello when i first setup my asset accounts, i used CASH DRAWER acct to pay for company expenses out of personal acct. then i found out i can actually set up a DIRECTOR"s loan liabilty acct. Is it to late to transfer the balance from the cash drawer acct to the director's acct since it's been a couple years? need some help and how to do it. my concern is how will it affect submitting my t2 returnSolved692Views0likes5Comments