reckon one income tax expense account attributes
dnorgard
Member Posts: 3 Novice Member
in Reckon One
Hello
I have been recording company PAYG instalments paid to ATO (on their estimated basis) during the year to an "Other Current Liabilities" account.
When I do my company income tax calculations, I think I need to post a journal to decrease the above "Other Liabilities Account" and increase a yet-to-be-created Income Tax Expense Account.
Can anybody tell me what attributes this new Income Tax Expense Account should have? ie should it be classed as "Other Expense" and what Tax Code should it have.
Any pointers appreciated.
Thanks
Dennis
0
Comments
-
There is no tax code for Income Tax expense, and it could be classed as Other expense, but I usually wait for the accountant's reports and then do a journal to bring things into line with them
1
Categories
- All Categories
- 6.7K Accounts Hosted
- 16 📢 Reckon Accounts Hosted - Announcements
- 6K Reckon Accounts (Desktop)
- 8 📢 Reckon Accounts Desktop - Announcements
- 1.5K Reckon Payroll
- 35 📢 Reckon Payroll - Announcements
- 15 Reckon Payroll Help Videos 🎥
- 28 Reckon Mate App
- 2.7K Reckon One
- 12 📢 Reckon One - Announcements
- 12 Reckon Invoices App
- 22 Reckon Insights
- 100 Reckon API
- 308 Point of Sale
- 1.9K Personal Plus and Home & Business
- 74 About Reckon Community