Canada hst for unearned revenue for a year monitoring invoice

Joined
Aug 26, 2023
Messages
1
Reaction score
0
Country
Canada
If I invoice a customer for 12 month's monitoring jan 1, 2023
127.00 total cash dr
112.39 sub total unearned revenue cr
14.61 hst unearned hst cr

memorized journal entry every end of month
9.37 unearned revenue dr
9.37 revenue cr
1.22 unearned hst dr
1.22 hst cr

is this correct or can i just cr hst on jan 1, 2023 when i invoice
and then do the the memorized jounal entries for unearned revenue for 112.39 only

and what happens to the small amounts in unearned revenue for small amounts left because of rounding
just
dr or cr unearned revenue into revenue
 

Ask a Question

Want to reply to this thread or ask your own question?

You'll need to choose a username for the site, which only take a couple of moments. After that, you can post your question and our members will help you out.

Ask a Question

Similar Threads

Canada Are Speech Therapy courses considered "Therapy"? (for GST/HST and Insurance claims) 1
Canada HST on services 0
Canada Should I apply hst for US invoice 1
Hello from Kazakhstan 0
Canada Recapturing HST 1
Canada timing to claim HST 1
Canada Year end HST... 0
McGladrey v. Rothstein Kass 0

Members online

No members online now.

Forum statistics

Threads
11,646
Messages
27,602
Members
21,419
Latest member
dmcivv

Latest Threads

Top