Remitting Taxes (GST, HST, or QST)
Sage 50 Accounting keeps track of the sales tax charged
on sales, and the amount paid on purchases. You must report this information
at the end of a month, quarter, or year, depending on your report period.
You pay the government if the tax charged on sales is more than the tax
you've paid on purchases, or receive a refund when the amount you paid
on purchases is greater than the taxes you collect from sales. Sage 50 Accounting summarizes this information in a tax
report.
We recommend you back
up your data before filling up a sales tax return, so that you have
backups of each tax period.