SELF ASSESSED PST

To handle Self Assessed PST for Business Central, use the field ‘Provincial Tax Area Code’ on the Purchase Line.

SETUP

1. Create a Tax Area code that contains a single Tax Jurisdiction for the Federal GST.

2. Create a Tax Area code that contains a single Tax Jurisdiction for the SK PST 

In the Tax Jurisdictions table, select the G/L account for the ‘Reverse Charge (Purchases)’ field.   

‘Reverse Charge (Purchases)’ Account will be used for the credit side of the self-assessment entry for sales tax payable.   

PURCHASE DOCUMENT

1. On the Purchase Invoice, display the Provincial Tax Area Code field and Tax Area Code field.

2. Set the Tax Area Code to CA GST Only.

3. Set the Provincial Tax Area Code as SK PST. The system will pop up the message below:

Select YES to continue.

The system will show the total of the invoice based on what the Vendor is charging for Tax.

4. Preview Posting will show the GL Entries and Tax Entries that will be created for the Self-Assessed Tax. 

5. Post the Purchase document.

SALES TAX COLLECTED REPORT

1. Run the Sales Tax Collected Report.

2. Display the Details to see the entries for Purchase and Sales Tax posted.

The PST Entry will show the Tax Sales Amount and Sales Tax to be paid.