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Steve9000
August 12, 2021
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How to categorise my tax?

  • August 12, 2021
  • 1 reply
  • 0 views

Just paid last year's self assessment. How do I input this please? Is it a business expense or a personal? 

Best answer by Ashleigh1

Hello Steve9000, 

 

Welcome to the Community page, 

 

So you would have to exclude this type of transaction. An income tax payment is an expense but as it's classed as a liability that your paying it should be expensed out of a liability account so it doesn't show on your P&L but you cant do this in QBSE so you just have to exclude that type of transaction in your account.  

1 reply

A
Ashleigh1Answer
August 12, 2021

Hello Steve9000, 

 

Welcome to the Community page, 

 

So you would have to exclude this type of transaction. An income tax payment is an expense but as it's classed as a liability that your paying it should be expensed out of a liability account so it doesn't show on your P&L but you cant do this in QBSE so you just have to exclude that type of transaction in your account.  

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