I have received a GST refund from the ATO. I have no idea where I am meant to put it. Could you please let me know what I have to do?
Receive money transaction under
Bank accounts tab and categorize the amount received to
Tax payable account.
If it’s common that you receive GST refunds, you can go to
Chart of accounts and rename
Tax payable account to
GST refundable and change the category from
Assets but this is completely optional.