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As a credit in your check book. For use in the future as needed.

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15y ago

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How do you post a refund check to the general ledger?

To post a refund check to the general ledger, first, identify the appropriate accounts affected by the transaction, such as the cash account and the expense or revenue account being refunded. Record a journal entry that debits the cash account (increasing it) and credits the relevant expense or revenue account (decreasing it). Ensure to include a clear description of the transaction for future reference. Finally, verify that the entry balances and accurately reflects the refund in the financial records.


Are you really getting a refund when you get your tax refund from the Internal Revenue Service?

Yes, a refund of overpayment...but a refund nonetheless.


What does pgo refund mean?

A PGO refund typically refers to a refund process associated with a "Post Graduate Outcome" (PGO) assessment, often in educational contexts where students are evaluated after completing their courses. It may involve the return of fees if certain criteria are not met, such as job placement or satisfaction guarantees. The specifics can vary depending on the institution or program, so it's important to consult the relevant guidelines for details.


Where can I find a tax refund schedule online?

A tax refund schedule can be found online at various different site. Some of these include http://www.irs.com/2011-federal-tax-refund-schedule/ as well as http://www.efile.com/tax-refund/where-is-my-refund/. where is my refund


Is a federal tax refund taxed?

No its not taxed. When you receive your refund, you will notice that their nothing withheld from your refund of any sort. You definitely do not have to report your refund to the IRS-its your money that you earned.

Related Questions

How long does it take to get an IRS refund if you file by mail and want the refund electronically?

it took me exactly three weeks after I got the paperwork into the post office.


If you post 10 percent bail for someone they appear in court but is found to be guilty do you receive a refund of your money back?

Yes.


Could you bring stamps to post office for refund?

In the United States, yes you could return stamps to a post office for a refund. However, you would also need to provide the receipt to prove you purchased the stamps as well as the method by which you paid. That is the incorrect answer , the correct answer is that you can not get a refund on your stamps or postage, but you can exchange the stamps for other stamps as long as the one you have are in good condition, I know I worked in the U.S. Postal Service for over 15 years, and still today the receipt that you get after you purchase something from USPS, states at the very bottom , that there is no refund for postage.


How do you post a refund check to the general ledger?

To post a refund check to the general ledger, first, identify the appropriate accounts affected by the transaction, such as the cash account and the expense or revenue account being refunded. Record a journal entry that debits the cash account (increasing it) and credits the relevant expense or revenue account (decreasing it). Ensure to include a clear description of the transaction for future reference. Finally, verify that the entry balances and accurately reflects the refund in the financial records.


How long does it take to get 8000 tax credit refund?

I have been searching for that answer as well!! Please post if you find out! IRS says 8-12 weeks


Where can I find out the status of a tax refund for the state of Virginia?

To check the status of your refund enter your Social Security Number, tax year of the return filed and the expected refund amount (to the nearest dollar). If you e-Filed your tax return your refund will be processed in about one week. If you filed your tax return on paper, your refund could take up to seven weeks to process. If you mailed your tax return using certified mail, it could take one to three weeks before we receive it from the Post Office. Next year consider using e-File and have your refund deposited directly into your bank account if you would like to receive your refund faster.


Are you really getting a refund when you get your tax refund from the Internal Revenue Service?

Yes, a refund of overpayment...but a refund nonetheless.


wheresmyrefund where's my refund?

where is my refund


What does pgo refund mean?

A PGO refund typically refers to a refund process associated with a "Post Graduate Outcome" (PGO) assessment, often in educational contexts where students are evaluated after completing their courses. It may involve the return of fees if certain criteria are not met, such as job placement or satisfaction guarantees. The specifics can vary depending on the institution or program, so it's important to consult the relevant guidelines for details.


Is it possible for a refund to be reversed?

Yes, it is possible for a refund to be reversed if there was an error or if the refund was issued incorrectly.


Where can I find a tax refund schedule online?

A tax refund schedule can be found online at various different site. Some of these include http://www.irs.com/2011-federal-tax-refund-schedule/ as well as http://www.efile.com/tax-refund/where-is-my-refund/. where is my refund


What are some common tax refund questions that individuals may have?

Some common tax refund questions individuals may have include: "When will I receive my refund?", "How can I track my refund status?", "Why is my refund amount different than expected?", and "What should I do if I haven't received my refund?"