How do i record a corporation tax refund?

Thanks for reaching out to us, sbirchy.

I can share information about recording corporate tax refunds in QuickBooks Online.

You can record your refund by creating a deposit and using the taxes paid or expense account as the source account. I'll show you how to do it:

1. Go to the + New icon, then select Bank Deposit.
2. From the Account dropdown, choose the account you want to put the money into.
3. In the Account column under Add funds to this deposit section, select your income tax expense account.
4. Enter the amount and the necessary information.
5. Once done, hit Save and close.

Check out the following article for more details: Record and make bank deposits in QuickBooks Online.

If you're not sure which expense account to use, I recommend consulting with your accountant to ensure that your records are correct.

For future reference, I've got this helpful resource that guides you on how to put downloaded bank transactions into the appropriate accounts: Categorise and match online bank transactions in QuickBooks Online.

If you have any additional questions about refunds or taxes, you can click the Reply button. I'll get back to you as soon as I can with further information.