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Steve9000
Level 1

How to categorise my tax?

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

Solved
Best answer August 12, 2021

Accepted Solutions
Ashleigh1
QuickBooks Team

How to categorise my tax?

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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1 REPLY 1
Ashleigh1
QuickBooks Team

How to categorise my tax?

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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