How do I account for the payment of company tax in QB?
In my opInion, you create a tax liability account (Tax Payable) and create company tax account (expense account), Post any recognised tax liability to the payable account, reduce the balance in the payable account by posting tax paid in advance (withholding tax, etc) and at the end of the year, the total tax paid goes to Compay tax account.
You have clicked a link to a site outside of the QuickBooks or ProFile Communities. By clicking "Continue", you will leave the community and be taken to that site instead.