I am sure you must have gone through the phase wherein you overpaid your taxes and now received a refund. And I am sure that you are still facing the same issue that’s why you have landed on to this page to check out how to record them within quickbooks. When you enter the refund within the program correctly then it automatically corrects your liabilities side of the balance sheet. Here is the step by step process of how you can record tax refunds in Quickbooks:
Now here is what happens, when your taxes are overpaid then your balances on the liabilities side declines. When you record the refund then the software raises up your liabilities and your balance on both the asset and the liabilities side matches.
Hope now you had clarity over what how to record your tax refunds within the program. But if you demand any further help then do get in touch with Qbpro.ca. You can also talk to our quickbooks proadvisors and get an immediate help. To connect with them dial our Tollfree helpline number at 1800-940-7442.
What is Qbpro?
We are a Quickbooks and TurboTax consulting firm that takes care of all the issues that people might ever face within these programs. If you are using any of the above platforms and are continuously faced with bugs then we are here to help. You can connect with us for errors related to Quickbooks or TurboTax via any of the medium below:
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We are proud to announce that we are covering entire Canada. Thus if you face any issues now, give us a call as our proadvisors work 24/7 to get your issues fixed.
Disclaimer: QBpro.ca is a reputable QuickBooks® Consulting firm that provides professional support services related to your accounting software. It is also a front-runner in providing 3rd party technical support services for quickbooks.
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