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May 31, 2022
Question

How to create an income tax expense account that QBO recognizes as tax and reflects accordingly in the P&L report?

  • May 31, 2022
  • 1 reply
  • 0 views
I would like to have the tax show up after profit line, before net profit.  Right now, it shows up alongside other operating expenses.

1 reply

QuickBooks Team
June 1, 2022

Hi kristina-tulacap,

 

Welcome to Community!  QuickBooks Online is a dynamic program that provides everything you need to stay ahead of your work.  I'll be happy to provide more information so you can reach your QuickBooks goals!

 

When you created your company file, QuickBooks automatically set up the chart of accounts based on the information you provided about your business.  However, you can add an account as you feel necessary by following this guide.  For additional assistance, I suggest reaching out to your accountant.  If you don't have one, we can help you locate a ProAdvisor in your local area.