Government sales tax refund
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Hey ! A real newbie here with a real nebiw question ! How do i record a g.s.t. sales tax refund from government so my balance on my sales tax report goes back to 0 for the selected period ? ex: 4th quarter i collected 429.80$ but on my purchases i paid 539.52$ governement sent me a refund of 109.72$ . tks !
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Hi @GuyDeschenes1234! You'll want to head to: Accounting > Transactions > locate the income transaction > for the category select 'Sales Tax Refund from Government' > select the Tax. That should record the refund for the tax!
Hi @EmmaP – I've attached 2x screengrabs where I've tried to do this but it points me back to my Sales Tax which I have created manually. Please can you help me allocate a VAT refund so that it doesn't appear as an income or expenditure? Thanks.
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