This faq explains how to make the necessary changes to your company file to prepare for the HST changes occurring on July 1, 2010 for Ontario and BC.

Important! The following steps apply to QuickBooks 2010 only.

If you use QuickBooks 2009/2008 and

• you live in BC, follow the steps here
  
• you live in Ontario, follow these steps 

If you use Multicurrency or 2007 and earlier, follow these steps.

If you have transitional transactions, (in other words, you need to start charging HST before July 1), you cannot remit the provincial portion of the HST until your next filing period after July 1.

For more information on how to file the provincial portion of HST, refer to this faq.

 

We released an R4 product update that includes the new HST Setup Tool. This tool steps you through what you need to do to make the necessary changes to your company file to prepare for the new HST changes.

Before proceeding with these steps, make sure you have installed the R4 (or a later) update. The R4 update contains the HST Setup Tool.

To install the update now, read this faq.

 

After installing the R4 or later update, QuickBooks will display a message asking you if you want to make the HST changes now or create an alert (If you don't get this alert, see the tip below for details on how to access the tool) :

• If you don't need to charge HST until July 1: create an alert either on the popup message or for all steps in the HST Setup Tool. The alert will then remind you closer to the July 1 date  that you need to change to the new HST setup on July 1.
• If you need to start charging HST May 1 due to transitional rules: click Change Now on the popup message. Then, in the HST Setup Tool, complete step 1, and hold off on steps 2 & 3 until July 1.

Tip: You can also access the HST Setup Tool (for Pro, Premier and Enterprise) by going to the Sales Tax menu, selecting Manage Sales Tax, then clicking the Change Tax Setup button. You'll see a new HST option at the bottom. Select it to open the tool. Can't see this option, click here.

For EasyStart, you can access the HST Setup Tool from the Company menu.

 

Bulk Change feature:

We have added a "Bulk Change" button to the Assign Tax Codes window. This feature will automatically update all items, customers & vendors, and accounts to the new HST code. You do not want to use this feature until July 1.

To use the Bulk Change feature:

Important: Do not perform this step until July 1.

1. On the Assign Tax Codes window, click the Bulk Change button.
2. When asked, we highly recommend you make a back up of your company file.
3. Select the items, cust/vendor, and accounts you want to update to the new HST tax code.
4. In the first drop-down box, select the tax code you want changed.
5. In the second drop-down box, select the new HST code you want to change it to.

For example, in the picture below, we want to change all from an S code to an H (HST) code.

• When should I start charging HST?
• Videos on Harmonized Sales Tax
• CRA: HST main page
• CRA: Transitional rules
• Ontario government: Are you HST ready?
• CFIB: HST checklist for Ontario
• BC Government
• CGA booklet: HST in BC