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If I received a tax refund from the state and IRS and it was deposited in my business checking account, how do I categorize that in QB, which account descriptor?

 
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Re: If I received a tax refund from the state and IRS and it was deposited in my business checkin...

Hi there, @aspirefitbody. I'm here to help with entering the deposit. 

 

Generally, it's recommended for a corporation to select the liability or expense account associated with the payment. This helps to ensure accurate figures for the liability/expense account and reporting. 

 

The entity type of the business will also play a role in determining the best process for recording the transaction. There was a similar question asked in the Community, and I recommend checking it out since there's some helpful information in the thread: How to record income tax returns refund in quick books?.

 

If you need anything, I'm just a post away. Cheering you to a fantastic year ahead! 

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