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Categories AgExpert Accounting AgExpert Analyst
Created by AgExpert Support
Created on Jul 21, 2013

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Where should I be coding my Corporate tax payments, I find a 2320 acct under liabilities for Corp tax payable as well as a 2415 acct for Future tax payable, then I also see acct 5920 under expenses for Corp Income tax expense with subheading current taxes and future taxes? I believe it is not an expense so assumed the liability 2320 acct? And how would I offset the entry after I have filed and they have settled for example my 2012 CRA Corp tax account?

  • ADMIN RESPONSE
    Feb 10, 2025

    Hello Chris!

    You would want to use the liabilities account for the Corporate Tax payable. It is not an expense.

    If you need more details about this, the is an article in our knowledge with screen shots about how to enter

    Corporate income tax payment.

    Let me us if you have any more questions

    Thank you

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