Record a PST Commission

In British Columbia (BC), once collected, PST charged to a client via an invoice is paid to the BC government. If paid on time, the firm is entitled to a PST commission in the form of a remittance reduction. 

Record a PST Commission

To record a PST commission:

1. Create an income account named PST Commission.
2. Add an accounts payable bill, bank withdrawal, or credit card charge.
   Important

   On the Add New Bill or Add Transaction screen’s PST field, the amount must be the total to be remitted to CRA. Uncheck the Calc box so GST and PST remain zero.

3. To the far right of the Account field, click the orange Y.
4. On the Split Accounts screen, from the first line’s Account field drop-down, click 2210 PST Collected.
5. In the Debit field, enter the amount owed to the BC government before the commission is applied.
6. In the upper left corner, click Add.
   A second line displays beneath the first.
7. From the Account field’s drop-down, click PST Commission. 
8. In the Credit field, enter the commission amount.
9. In the upper right corner, confirm the Remaining Balance equals 0. 
10. In the lower left corner, click OK.
11. Complete the remaining bill or transaction fields, then Save.