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tcpc122414
November 1, 2023
Question

How do I arrange corporate income tax so it shows after gross income and before net (rather than just another expense item)?

  • November 1, 2023
  • 1 reply
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1 reply

J
JamesM4
November 1, 2023

Hello tcpc122414,

 

Thanks for contacting us in the QuickBooks Community. Rest assured, I'll be happy to point you in the right direction so you can arrange corporate income tax so it shows after gross income and before net. 

 

In order to accurately record your transactions, I highly recommend consulting an accounting specialist for expert suggestions. This ensures your books remain accurate while you continue to manage your work with peace of mind. You can also get in touch with a professional using this link here. Other accounting professionals are able to see this post in the Community and this will allow them to chime in.

 

Let me know if this info helps. I'm here to steer you in the right direction.

T
tcpc122414Author
November 2, 2023

I don't have a question about accounting, per se. My question is how to get the Income Statement produced by Quickbooks to show corporate tax after gross income rather than as just another expense item. The recommendation to contact an accounting expert wasn't helpful.

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Trish_T
November 2, 2023

Hi tcpc122414,

 

Thanks for getting back to us here.  The profit and loss report will show your business performance for a specific accounting period.  Although all reports in QuickBooks are customizable, I feel you would be best to review the Balance Sheet, for a more in depth review.  All reports will show income first, followed by cost of goods sold, then expenses.  There is no option to see the corporate tax expense before other expenses.  To achieve your goal, I suggest exporting the information to an Excel spreadsheet.  If you would like to submit a suggestion for feature enhancements, go to your Settings ⚙ and select Feedback.  Customer recommendations are greatly appreciated, in assisting us with product updates, to improve your overall experience with QuickBooks Online.

 

Feel free to reach back out with other questions.  We would be happy to help!

 

 

 

 

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