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June 14, 2023
Question

How do I record an income tax refund? Is it income?

  • June 14, 2023
  • 1 reply
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1 reply

June 14, 2023

Hi jsmith-altaconsu,

 

I appreciate you reaching out here, to ensure you're recording income tax refund accurately.  QuickBooks Online enables you to record the refund, so books remain aligned.  I'd be glad to assist!

 

Follow these steps to record the refund;

 

1. From the left menu, open Taxes, then Sales Tax

2. Select the Filings tab and select Filed from the All returns field

3. Use the ▼ dropdown menu and choose Record refund 

4. Complete the fields to record the Refund to and Refund date

5. Enter the Refund amount

6. Hit Record refund

Here's a helpful guide for future reference.

 

Please don't hesitate to reach back out, if you have any other questions or concerns.  We're always happy to help!