Coding payment of Company Income Tax
Tanya_10671797
Member Posts: 8 ✭
To what type of Account do I code payment of Company Income Tax and what GST code do I use? Many thanks
0
Comments
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No tax code, and post to a Liability or Asset account called Income tax. Depends on how the financials were set up and what the Accountant prefers, it can be changed later0
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Thanks so much Kris - "Non-current liability" or "Other current liability"?0
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I would use Other Current Liability, although others may disagree, but as I said the accountant will put it wherever he wants when the time comes0
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