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Answer
Mar 12, 2019 1:05 AM UTC

Several options:

  1. Setup a CRA income tax vendor and book payments to AP under that name, later post income tax as bill.
  2. Create an IncomeTax Installments account as a 'current asset' - post installments here, later transfer to tax bill.
  3. Create an Income Tax Due account under current liabilities and post both installments & tax bill there

17 replies

Answer
Mar 12, 2019 1:05 AM UTC

Several options:

  1. Setup a CRA income tax vendor and book payments to AP under that name, later post income tax as bill.
  2. Create an IncomeTax Installments account as a 'current asset' - post installments here, later transfer to tax bill.
  3. Create an Income Tax Due account under current liabilities and post both installments & tax bill there
Mar 12, 2019 1:05 AM UTC
Thank you.