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How to categorize Federal R&D tax credit advance from Mainstreet.

visiblebeevisiblebee Member Posts: 1

I'm looking to properly categorize the tax credit advance that I received from Mainstreet. Any ideas how to proceed?

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    JulianPJulianP Member Posts: 1,002 ✭✭✭

    Hey @visiblebee !

    We here at Wave support are able to provide technical support, but because we aren't accountants, we aren't able to provide accounting advice for inquiries like this. While we are able to tell you how to do something in Wave, we aren't able to necessarily tell you the right way of doing it when it comes to the principles of accounting.

    I would highly recommend reaching out to a registered CPA to ensure that you don't get incorrect advice on how to do your accounting. We'd also recommend checking out our Fearless Accounting Guide PDF for more information on the basics of accounting!

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