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August 7, 2023
Question

How to record income tax refund?

  • August 7, 2023
  • 1 reply
  • 0 views
We received an income tax refund and would like to know what are the appropriate steps to record the amount.

1 reply

August 7, 2023

Hey there ernesto-correa-m,

 

Thanks for reaching out to us here. Ensuring you record your tax refund correctly is an important step in maintaining clean books. Follow the steps below record a refund.

 

1. Open Taxes, then Sales Tax

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

3. Select Record refund from the dropdown menu

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

5. Enter the Refund amount

6. Hit Record refund

 

Here is a helpful guide for your reference. Feel free to reach back out if you have any other questions.