If the deposit is posted in 2022 to this other income account (Employee Retention Credit), this will affect the P&L and Balance Sheet for 2022.  I am assuming the ERC received is for either year 2020 or 2021 or both.  The ERC received will need to be posted to the year the credit was applied to and an amended tax return will need to be filed to account for the reduction in the employer's tax liability.  Assuming the amended tax returns are filed, how do we zero out the ERC that was posted in 2022?  If this deposit is not zeroed out, it will be counted as income in 2022 P&L and the balance sheet will be off.  Please advice.