Insurance Premium Refund

[RightOn]

Another brain dead moment... A S-corp received refund from insurance premium paid in a previous year. The S-corp did not pay for that type of insurance in 2012. So how should the refund be accounted for? I am thinking to enter it as a negative figure expense item. Suggestion?

[Burke]

That's what I do when there is an Insurance expense category with a sufficient amt to deduct it from, even if it is a different type.

[BOB W]

That's what I do when there is an Insurance expense category with a sufficient amt to deduct it from, even if it is a different type.

Agree with Burke, I do the same.