QB Issue Resolution:
We quite have a lot of things to consider here, and I’ll be with you until you get what you need. Please don’t start any steps yet without reading the whole answer.
First, we’ll go with the tax setup and set GST on purchases as reclaimable.
When you add tax codes for sales tax, there is a checkbox that says I pay this on purchases. Below that, there’s also a checkbox that says Tax on purchases reclaimable. Both of them should be checked to be able to add taxes on vendor transactions, and so they show as reclaimable on your tax reports. Please see the first screenshot. By the way, are you done setting up your taxes?
Second, when you record your purchases with shipping fees, just select the tax code in the Sales Tax field. Then, add another line for the shipping charges. You can create an account for this to be added to the transaction. Please check the second screenshot.
Third, create separate vendor transactions for the local charges: port clearance, customs brokerage, port charges, domestic transport, etc. Then, also add the GST code in the Sales Tax field or the appropriate tax code for these charges. I’d suggest putting a memo in these transactions since we can’t directly associate it to the item. You can put the item name on the memo field.
Fourth, when getting the total local cost, you’ll want to collect all local charge transactions since they are not directly associated with the item. You can use the Expenses by Vendor report and add the Memo column to it to see which transactions are for that item only. (Please see the fourth screenshot.) Then, export the report to Excel to easily get the total cost. After this, you can also get the total shipping cost to add to the local charges. You may run a quick report of the shipping account on this. Basically, this part here is manually calculated and the costs are manually gathered.
Resolution for Issue 'V import 1 product f China. V pay GST & other clearing expenses at port to different parties. How to record these transactions so product cost is correctly reflected' available: Yes (Solved).
Source: Intuit Community forum.
V import 1 product f China. V pay GST & other clearing expenses at port to different parties. How to record these transactions so product cost is correctly reflected: this issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the issue yourself by looking for a resolution described below. If it is a complex issue or you are unable to solve the issue, you may contact us by clicking here or by using other support options.Support for GST Code
Quickbooks Repair Pro will resolve it efficiently and affordably. Guaranteed resolution of your issue, or you pay nothing!
Error Recovery for GST Code [Canada]
E-Tech is the #1 Quickbooks data migration and Conversion service provider.
Additional Support Options: