An issue was identified in the month of May where the finance system was not properly calculating and booking the HST Rebate on purchases made, thereby resulting in the full cost (including all HST) being posted to the departmental expense accounts. The rebates were not properly calculated on the majority of invoices processed for the period from May 6th to May 25th. This issue was addressed on May 26th with a correction to the system configuration, after which there have not been and should not be any further issues with the rebate calculations.
The HST Rebates for the affected period of May 6th-25th have now been calculated, and were booked on June 24th 2013 (in journal entry # 0000138381). This entry reduced the expense accounts for the HST rebate amounts, as should have been done by the system when the invoices were originally processed in May. These line items can be identified by the journal entry number, and show “Rebate Corr” at the end of the Description field, as well as detailing the original Voucher number in the Reference field so that they can be tied back to the original expense processed in May as required.
If you have any questions or concerns on this matter, please contact the General Accounting team at firstname.lastname@example.org.
Queen’s Financial Services