• Dave
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  • Registered: 08/08/2011
  • Posts: 2

Topic: Company Tax accounts

Hi,

I'm trying to enter the Year end Corporate tax liability into my FA, but I've run into an issue.

I'm pretty sure I need to credit a liability for this and I have

  • Dave
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  • Registered: 08/08/2011
  • Posts: 2

Re: Company Tax accounts

Hmmm.. the quote caused an issue (;

I'm pretty sure I need to credit a liability for this and I have \"2120 Accrued Income Tax - State\", but I don't know what to debit?  If I debit an expense account that's no good since it will affect profit.

Also - I'm not 100% certain that \"2120 Accrued Income Tax - State\" is correct anyway since it may be for Income tax that needs to be paid over?

The company is not VAT registered and does not have any employees, so is only liable for its Corp Tax.

I wonder if I've deleted an account from the chart of accounts that I needed for this?

Regards,
Dave

  • joe
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  • Registered: 03/15/2007
  • Posts: 5,106

Re: Company Tax accounts

Please contact a local accountant for setting up your accountance. We do not provide support on that. We don't have the resourcess for this.

/Joe