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My accountant has requested a series of Adjusting Journal Entries, including adjustments to Payable and Receivable Accounts:
Here is a sample:
31/12/14 Accounts Receivable XYZ Inc - Account No. 1205 - Debit - 7592.20
31/12/14 Accounts Payable -…
I am currently trying to reverse older invoices as opposed to writing them off to bad debt.
I am able to pull up the old invoices, but upon clicking the "Reverse Invoice" button I receive a message that says "The transaction cannot be adjusted because…
Hi all,
Can anybody tell me the best way to record a GST Refund that has been audited and had ITCs denied by the CRA?
When I file my return I move the rebate/amount owing to a clearing account. Normally, the 'GST Clearing' account would be emptied…