Thanks for joining this thread, @Jtd907. Let me handle your query so you can record your Employee Retention Credit (ERC) accurately in QuickBooks.
Yes, that’s correct. When the entry is recorded, it’ll show up on your Balance Sheet and Profit and Loss or Income Statement.
Here's an article in case you need tips to customize your accounts in QuickBooks: How to organize your chart of accounts. This will allow you to quickly determine your financial health so you can make better arrangements moving forward.
If you have any other questions or concerns besides managing ERC, please don’t hesitate to add a comment below. The Community is always here to help. Take care!
