how to treat income tax refund
dean24
Member Posts: 2 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
0
Comments
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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
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Thank you for your quick response
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