Chart of Accounts Income Tax Refund

by Shari
( Nampa, ID)

Chart of Accounts Income Tax Refund

Chart of Accounts Income Tax Refund

Which account should an income tax refund go to on the Chart of Accounts?

Comments for Chart of Accounts Income Tax Refund

Average Rating starstarstarstarstar

Click here to add your own comments

Jan 03, 2018
Rating
starstarstarstarstar 		Chart of Accounts Tax Refund
by: Stephanie

Hello Shari,

Thank you for your question about which account an income tax refund should be categorized to on the Chart of Accounts.

If you are a sole proprietor and are receiving an income tax refund that you are depositing into the business, it would go into the Owners Contribution (equity) account.

Click here to add your own comments

Join in and write your own page! It's easy to do. How? Simply click here to return to Chart of Accounts Questions.


Please subscribe to my monthly newsletter, Bookkeeping Basics E-zine. It tells you every month about the new information that I have added, including some great tips and advice from myself and other Bookkeeping Basics readers.

Enter Your E-mail Address
Enter Your First Name (optional)
Then

Don't worry — your e-mail address is totally secure.
I promise to use it only to send you Bookkeeping Basics E-Zine.

Like Bookkeeping-Basics.net?