Sales-tax filings should be supported by the books. A return prepared from unreconciled reports can leave unexplained balances that grow from one period to the next.
Start with complete transactions
Confirm that sales, refunds, purchases, and payment-processor activity for the filing period are recorded. Missing deposits or supplier bills can affect the reported tax position.
Reconcile the sales-tax accounts
Compare the tax collected and recoverable amounts to source reports and prior returns. Investigate old balances rather than carrying them forward indefinitely.
- Review taxable and zero-rated sales
- Confirm eligible input tax credits
- Check BC PST treatment and exemptions separately
- Reconcile filed returns to the general ledger
Keep support organized
Retain invoices, receipts, exemption certificates, and calculation schedules in an organized system. Good support makes future questions easier to answer.
General information only. Tax and financial rules change and individual circumstances matter. Confirm current requirements and seek advice appropriate to your situation.