Coding payment of Company Income Tax

Tanya_10671797
Tanya_10671797 Member Posts: 8
edited June 2020 in Reckon One
To what type of Account do I code payment of Company Income Tax and what GST code do I use? Many thanks

Comments

  • Kris_Williams
    Kris_Williams Member Posts: 3,272 Reckon Accounts Hosted Expert Reckon Accounts Hosted Expert
    edited June 2020
     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 later 
  • Tanya_10671797
    Tanya_10671797 Member Posts: 8
    edited June 2020
    Thanks so much Kris - "Non-current liability" or "Other current liability"?
  • Kris_Williams
    Kris_Williams Member Posts: 3,272 Reckon Accounts Hosted Expert Reckon Accounts Hosted Expert
    edited June 2020
    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 comes