Canadian sales tax; all change!
If you're one of our Canadian users based in British Columbia or Ontario, your sales tax structure is changing today.
I know that, but what am I supposed to do in FreeAgent?
Firstly, you need to make sure you're up to date with your books under the old system.
Make sure you've created, and marked as sent, all the invoices that you want to send under the GST/PST regime.
2. Bills, expenses and bank payments
Make sure that you've entered all the bills, expenses and bank payments that you need to claim purchase tax on using the old method. If you can't upload your bank statement yet, then put the bank transactions in manually.
3. Change tax settings
Once you're confident that all the transactions with GST and PST have been entered, go to Settings and select Sales Tax.
Change the settings to the new HST.
Save your changes.
Any invoices that are in draft status, and any invoices you create from that point, will be issued showing HST.
Please email support[at]freeagentcentral[dot]com and we'll do our best to help you!
- Autumn Budget 2017: business as usual for small businesses
- Customer stories - Village by Village
- Autumn Budget 2017: what you need to know about the second Budget of the year
- Do workers dream of electric bosses? 31% say they would be happy to work for a 'robo-boss'
- Digital detox: the freelancer's guide to switching off