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CameliaD
December 3, 2024
Question

Receiving deposit from Canada Revenue

  • December 3, 2024
  • 1 reply
  • 0 views

Hello, I am just new to this.

Trying to get an answer how to record a deposit from Canada Revenue and what account type should I use. They paid Canada Carbon rebate to small business and was deposited in our account a certain amount.

This deposit is a tax free (I assume shouldn't be an income account)

Please advise, thank you

 

  

1 reply

T
Trish_T
December 3, 2024

Hi CameliaD,

 

It's a pleasure to see you in Community. Welcome!  Recording the deposit received from the Canada Revenue Agency in QuickBooks Online, to ensure it's aligned with government guidelines, is key.  For this reason, I recommend speaking with an accounting professional for their expertise and best course of action. If you don't have an accountant, we can help you locate a ProAdvisor in your local area. 

 

If you have any other questions, feel free to reach back out. We would be glad to help!

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