The following instructions are to walk you through how to obtain the needed information from CosmoLex to complete your combined HST filing.
These are simplified instructions. Ensure that your bookkeeper/accountant doing the work is fully versed with HST filing procedures
- Line 101 is the Total Sales for the time period being filed.
- In CosmoLex, you can run the Profit & Loss report or the 4100 Legal Fee Income GL to get this total sales number.
- Line 105 is the Total HST collected on those sales:
- In CosmoLex, you can run the General Ledger Detail for Account 2201 to get this total tax collected number
- Line 108 is the Total ITC Credits, which is the total HST the client has paid out on disbursements and expenses.
- In CosmoLex, you can run the General Ledger Detail for Account 2202 to get the total taxes paid. You have to ensure that no previous installments are included in the 2202 number.
- Line 113 is the total amount of either refund or payment.
- In CosmoLex, you can use the General Ledger Detail Total 2201 HST Collected minus the General Ledger Detail Total 2202 HST Paid to calculate the balance payable or refundable.
- The last step is to enter a journal entry zeroing out the 2200, 2201 and 2202 GL Accounts. Detailed instructions for recording payments to the Canada Revenue Agency and the related journal entries are covered in this article.