How I register a HST refund from previous year

Question

Hello, 
 I am new to accounting and Sage 50 Pro... I added all the balances from previous year in my Sage and register the first 3 months of this year. My fiscal year ends at 31dec. 
 From previous year balances I see that there is an account receivable 1200 with, lets say, $1000 balance. In April this year I got the $1000 check from the Gov with the HST refund and deposit into my bank account. How I register this in Sage and how I clear the account 1200 acc receivable? 
 My accounts : 1060 bank account 2310 gst/hst charged on sales - $420 (CR) from this year input 2315 gst/hst paid on purchases - $549 (DB) from this year input 1200 accounts receivable - $1000 (DB) - from last year 2325 gst/hst adjustments - $0 2335 gst/hst Owing (Refund) - (the difference 2315-2310) from this year input 
 If I register like this 1060(DB) - 2315 (CR) - $1000 - I am afraid I affect the hst return for this current year... 
 Thanks for help!

Richard S. Ridings · Accepted Answer

I should mention also, that once you have your Data Integrity check indicating Data OK, then you can backup the file again and Finish History. 
 You will also have to go through all the inventory items you have and record the opening balances in terms of quantity for each item and the cost for each. You will have to do the check yourself because the program does not adequately validate the integrity of the inventory. However, you can run the Inventory Summary report for each applicable asset account as of the start of the year and confirm it matches the accounts on the balance sheet. 
 Again, the logic here is if you only have a number on the balance sheet for all your inventory, you don't know what you can sell or what you have in stock. You have an inconsistency in the inventory based on the data integrity check so you must have started setting up inventory. This can get more complicated to some degree so this is why I suggested talking with a consultant. And now that I know you have inventory issues, you might want to confirm the consultant has inventory experience before you get them to look at your file. 
 Hope this helps

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How I register a HST refund from previous year

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