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February 2023 - last edited February 2023 by Steven_M
February 2023 - last edited February 2023 by Steven_M
We have received a refund from our insurer of $3,164.07 LESS ITC of $287.64 ($2876.37). I understand we record the monies received under receive monies but how do we record the ITC amount of $287.64?
February 2023
February 2023
Thanks for your post. As we're not accountants we're not permitted to advise on the accounts and tax codes for transactions like your insurance settlement. You would need to speak to your accountant to ensure this is recorded and reported correctly.
Please don't hesitate to post again if you need help in the future.
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Cheers,
Tracey
Previously @bungy15
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February 2023
February 2023
manu thanks