Accounts Receivable Invoice and Deposit HST Information Update

• Invoicing - With the introduction of the HST the Accounts Receivable area has developed a new version of the Invoice Request Form. We would ask that you download the form from this link and begin to use this right away. You will need to identify the province for invoicing and if the item is taxable or not. From an invoice perspective, this is the only change in the process.
• Deposits - Any deposits that had tax applied will be required to use the new tax account of 1.3130.1 If you do your own departmental deposits you will need to have the Deposit Summary Form adjusted. If you have not yet had this done please contact Joe Branget at ext. 2133 to make the necessary changes.

Accounts Payable General Ledger Account Number Updates for HST
Effective July 1, 2010, please note that the General Ledger account number for GST Recoverable (currently 1.1340.1) will be updated to 1.1341.1 to correspond with pending change to HST. Additionally, once HST comes into effect, the University will now be eligible for a 78% rebate on the Ontario Sales Tax (OHST) portion (8%). The General Ledger account number for OHST Recoverable will be 1.1341.2. Below is an example of how these new accounts will be utilized: