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Status Answered
Created by AgExpert Support
Created on Mar 21, 2014

Disqus Agexpert Accounting Questions Archive

I'm just getting started on Ag Analyst and I just have some questions regarding taxes. I know that the corporate tax has to be posted to a liability account but I'm wondering if employer health taxes and federal and provincial taxes should be posted to expense accounts?
Thanks

  • ADMIN RESPONSE
    Feb 10, 2025

    Hi Ben, Generally you can follow the rule that if it should be remitted (GST/HST paid or collected, payroll taxes deductions, etc) then it should go to a liability account. Otherwise the tax should be included with the expense on which it is billed (such as PST paid).

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