Canadian HST Changing July 1, 2010

There are changes coming to the Canadian GST/PST system as of July 1, 2010. For details, visit What Is HST? (www.cra-arc.gc.ca/tx/bsnss/tpcs/gst-tps/gnrl/hst-tvh/wrks-eng.html)

PowerChurch Plus Version 11 was updated in a Maintenance Release dated 6/16/2010 with new features for tracking the Harmonized Sales Tax.

Prior versions of PowerChurch Plus will not be updated with these new features.

The new fields required for setting this up are found under File > Preferences > Accounting Setup. Click on the Accounts Payable tab. Below are the settings used for a 13% HST for Ontario, assuming 50% of the tax is reclaimable:

Below is an example of a manual cheque with HST entries, which assumes a 5% GST and 8% PST with 50% of each being reclaimable: