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July 29, 2019
Question

How do an record the payment for the corporation income tax in to quickbooks.

  • July 29, 2019
  • 1 reply
  • 0 views
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1 reply

Rustler
Level 15
July 29, 2019

In the chart of accounts you should have an expense account called corp tax expense, use that as the expense for the payment.

OR

if you are accumulating the amounts of tax monthly and holding them in a liability account, use that liability account as the expense (reason) for the payment