how to treat income tax refund

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dean24
dean24 Member Posts: 2 ✭
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

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  • Kris_Williams
    Kris_Williams Member Posts: 3,333 Reckon Accounts Hosted Expert Reckon Accounts Hosted Expert
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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

  • dean24
    dean24 Member Posts: 2 ✭
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    Thank you for your quick response

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