How to record a tax refund in QuickBooks.

Legacy KB ID: 204

Question

How do I record a tax refund in QuickBooks?

Answer

To properly register tax transactions in the Tax Payable Account so that they are picked up by reports, entries must be made through the official entry forms. 

To record a GST refund you must use the Receive Tax Refund function

 

QBi (2008/9 and later)

1.    On the top Menu Line > Suppliers > Tax Activities > Manage Tax

2.    Click on the Receive Tax Refund button;

3.    Complete the Make Deposit screen with the amount of the refund;

4.    Save & Close

 

2007/08 and earlier versions:

1.    On the top Menu Line > Suppliers > Receive Tax Refund;

2.    Complete the Make Deposit screen with the amount of the refund;

3.    Save & Close

 

Version 8 and earlier

1.    On the top Menu Line > Activities > Receive Tax Refund;

2.    Complete the Make Deposit screen with the amount of the refund;

3.    Click OK

 

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