The GST/HST Payment Recovery Run program was designed to meet two requirements: 1) produce figures which can be used by each customer to prepare reports for recovery of GST/HST from Revenue Canada, and 2) balance un-reported GST/HST transactions to the GST/HST liability/recovery general ledgers.
The program produces two types of reports. It produces a detailed report which lists all the transactions for a given range of periods and then a summary by GL account number for the liability/recovery accounts. You may, at your option, suppress the detailed report and print only the summary. The program will allow you to produce the same report from a completed register as necessary.
On a final register run, the program updates a field on the record with a register number. This register number is controlled by the program and incremented by one each time a final run is done. Once records have been labeled with a final register number, they are considered to have been reported to Revenue Canada and the appropriate recovery is expected. This means that these records should no longer be left in the balance of your liability/recovery account. You should set up a separate general ledger record for GST/HST receivable or due to Revenue Canada, and you should prepare a journal entry which transfers the balances from the various GST/HST liability/recovery GL's to the receivable GL. This will result in leaving balances in the liability/recovery GL's which should equal the amount of the un-reported GST transactions. If you do make these journal entries, it will simplify the balancing of the un-reported transactions to the balances of these GLs.
Old Register/Preliminary/Final
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Enter 'O' if you want to produce a report of a previously run recovery register.
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Enter 'P' to run a preliminary register report. This report option should be used to produce a report of un-reported GST/HST transactions for balancing purposes.
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Enter 'F' to run a final GST/HST payment recovery register. During the final register run, the GST/HST register number will be stored in the record. This finalizes the record as part of a specific recovery run. Records with register numbers will not be picked up on a future preliminary or final register run.
The Following Appears if the Report is Requested on an Old Register Number:
Enter Register Number to Re-Print
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Enter the significant digits of a previous register number (up to 10 characters).
The Following Appears if a Preliminary or Final Report is Requested:
Enter Starting Period
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Enter the accounting period number to be used as the start point to pick up transactions for this register run.
Enter Ending Period
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Enter the accounting period number to be used as the end point for transactions to be included in this register run.
Remember that it is possible because you can re-open accounting periods that you could have GST/HST transactions in a prior period which have been included in a previous report.
Enter Tax Codes to Report
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Enter specific tax codes to report on separated by commas.
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Accept the default, to report on all tax codes (commonly used to run a separate report for the 100% rebate able book GST).
Detail/Summary
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Enter 'S' if you want a Summary report only.
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Enter 'D' if you want a Detailed Report followed by a Summary Report. The detailed report lists all transactions selected for processing in this report run.
GL Selection Criteria Code
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Enter the criteria code for the range or selection of GL accounts to include in this budget report.