input tax credit recording

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  • Updated 3 years ago
I have just received an Insurance refund cheque that has an Input tax Credit included.  It has reduced the amount that has been paid to me by the Insurance Company.  Example; Insurance Claim $2,000.00, less excess $500.00, less ITC Deduction $250.00, Cheque received = $1,250.00.  Can anyone tell me how to record it in Reckon Accounts.
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Bob Little

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Posted 3 years ago

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