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Jul 29, 2019 2:02 AM UTC
Question

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

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1 reply

Rustler
Jul 29, 2019 10:40 AM UTC

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