In QuickBooks, how do you record employee retention credit
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In QuickBooks, how do you record employee retention credit COVID-19 has forced the liquidation of your business or caused a significant decline in gross sales. Do you want to learn how to use the Employee Retention Credit function in QuickBooks? In this section, we'll show you In QuickBooks, how you record employee retention credit. To begin this process, you must first be an ERC-eligible employer. You may also visit this page and read additional information if you're looking for the Quickbooks Online Login Problems system. 1. In QuickBooks, how can I register for ERC credit? In QuickBooks, how can I enter the employee retention credit? You can input your quarterly tax payment as a debit to the Income Tax Expense account and a credit to the Cash account in QuickBooks to record the ERC. 2. What does the ERC credit journal entry look like? Depending on your accounting style, a retroactive ERC claim is recorded as a debit to a cash account or a credit to a receivable account. A