COVID-19: Bookkeeping your payroll tax credits refunds
NEWLLC
Member Posts: 7
Posting under a new discussion since my question has gone unanswered on the another thread. If there is not enough tax withholdings to cover the Sick and Family Medical Leave Credit and a refund is owed, how is this recorded through the payroll journal transaction? Where is the offset for the credit to income reflected since there is no debit available for the taxes owed? I do not see an additional debit account. PLEASE NOTE - We have an existing ticket open that is completely separate from this question.
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Hey @NEWLLC , in case you missed it, I've answered your question in the following thread!