GST or HST Period-End Procedures

These procedures may also apply to HST. When in doubt, consult your accountant.

The end of your GST (or HST) reporting period may be the end of the month, end of the quarter, or end of the fiscal year, depending on your annual sales volume. For more information about reporting periods, contact the Canada Revenue Agency.

At the end of your Goods and Services Tax (or Harmonized Sales Tax) reporting period, complete the following procedures:

  1. Print a Tax Report. Print in detail and summary form on the last day of your GST reporting period.
  2. Print a balance sheet. Print on the last day of your GST reporting period.
  3. Make any changes needed on the Tax report, comparing the balances to those on the balance sheet.
  4. Fill out the GST/HST Return.
  5. Back up your company files.
  6. Account for your GST or HST payment or refund. This procedure removes the reported amounts from your GST accounts to prepare them for the next reporting period.
  7. File the balance sheet and Tax report with other receipts or supporting documents for this GST period.