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MIchaelJSanders
September 20, 2022
Question

Record tax liability

  • September 20, 2022
  • 1 reply
  • 0 views

Hi All.

 

I want to record how much we owe in Corporation tax.

I have tried if I add an journal entry to the a liability account I have to post a balancing debit which reduces the amount in a bank account keeping the overall effect on the balance sheet the same.

How do I post a liability without it affecting a bank account balance?

1 reply

A
Ashleigh1
September 20, 2022

Hello MichaelJSanders, 

 

Welcome to the Community page, 

 

You would choose an account that isn't a bank account, but we would advise you speak to an accountant to determine which one, as we don’t provide support for corporation tax.

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