Good day, davids2. I hope you're doing great.
In QuickBooks Online, we can record the tax refund using a bank deposit. Though, I recommend asking for some guidance from your accountant to which account it'll be posted.
If you're using Quicken, I suggest reaching out to Quicken's support so they can guide you with the process.
Let me know if you need more assistance by leaving a comment below. Have a great day!
This does not answer my question.
The question is: to which account do i record that in quicken?
Why do I need to ask my accountant? This is accounting software. To which account a tax refund is recorded should not have a "not my department" type answer.
The process is not a problem, it is the account that is unknown.
We understand the importance of recording these correctly, and choosing where this transaction is recorded will have an impact on your books. While we are certainly here to guide you through using the product (ie creating a deposit) and troubleshoot any issues, choosing the account is considered accounting advice which we are unable to provide. This is why we would suggest you speak with your accountant or a QuickBooks Certified ProAdvisor for this detail.
I can advise that QuickBooks Online has some defaults accounts set up for tracking and recording tax. As an example, if you use the GST centre to record your BAS, journals are automatically recorded to the ATO Clearing Account which you can locate in your Chart of Accounts. In this example, when a journal is created in the ATO Clearing Account, you could then offset it with the payment. This is only an example and I can't advise whether or not you should record it here, it is one option.
To further clarify one more thing - you have referred to 'Quicken' previously. I just wanted to check you're not using Quicken rather than QuickBooks Online - if so, please see here for their support.