how to treat income tax refund

dean24
dean24 Member Posts: 2 Novice Member Novice Member
in Reckon One

how would i record a income tax refund in reckon one, back to the company would it be income or equity

any help appreciated

Comments

  • Kris_Williams
    Kris_Williams Member Posts: 3,608 Reckon Accounts Hosted Elite Expert Reckon Accounts Hosted Expert

    i post it to an asset or liability account - many names I’ve seen over the years - Income Tax, Provision for Income Tax, really depends on how the accountant handles it in the balance sheet. But it can be changed to suit him, either would be fine. But definitely not income

  • dean24
    dean24 Member Posts: 2 Novice Member Novice Member

    Thank you for your quick response

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