Category for state biz tax refund?
apex888
Member Posts: 2
My business is an LLC. In California we are required to pay a yearly LLC “Fee” for the permission to operate an LLC in CA. Last year that fee was accidentally paid twice and I just received the refund check from the state. Wave only offers "Sales Tax Refund" which is incorrect.
So how to categorize this? Do I need to create a new account for this? If so, what Account Type would this fall under?
0
Comments
@apex888,
You should categorize as a refund of an expense. Categorize to the same account that the original expense was categorized.
@Mikeg ,
I see that now.. Thanks for the help!