On July 1, 2010, businesses in Ontario and BC will be switching over to the new HST sales tax system, however, some will be impacted as early as May 1, 2010. Many users of QuickBooks have been wondering how these changes will impact them and how they should be configuring their accounting software. To assist with this process, Intuit will be releasing a new tool, available during the last week of April, which will be rolled-out with a new R4 maintenance patch/update for QuickBooks. Please make sure that the Automatic Update features of QuickBooks are turned on so that you can download the update as soon as it is available. With the tool you will be able to automatically update the QuickBooks tax codes in 3 easy steps. The process will take about 30 minutes to complete and you won't have to manually update all your records.
The HST tool is only available for the QuickBooks 2010 version and will not work with prior versions of QuickBooks, so it may be a good time to consider upgrading your software. To help with this transition Intuit is offerring a special promotion on QuickBooks with discounts up to 35%. Click here to learn more.
If you have any questions regarding QuickBooks or the HST Update process or if you would like to schedule a demonstration of QuickBooks please contact one of our Certified QuickBooks ProAdvisors at 613-768-7555, or send an email to David Mirsky, our resident QuickBooks guru here.