Preparing an S Corp return with employee retention credit.  My balance sheet is off by exactly the amount of the credit.  What am I missing?  I entered the ERC amount in the field labelled "Less employee retention credit claimed on the employment tax return".  Not sure if it matters but the credit was an actual refund not just reduction in payroll tax deposit.

Also, how should I handle 4th quarter ERC that was claimed on the Form 941 but refund not yet received?

Thank you.