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Hi. What should I do about the tax paid for the previous year that was shown in the current year's P&L as Corporate Tax Expense?
It's good to see you here in the Community space, Na2ra.
I'm here to help you properly handle the tax paid for the previous year that was shown in the current year's Profit and Loss.
The Profit & Loss report provides an overview of your business's income and expenses. It's possible that your corporate tax expense showed up in the report because you've set it up as an expense account.
Additionally, the appearance of last year's tax payment in this year's records could be due to the transaction date being recorded as occurring in the current year. To ensure that, we can double-check the transaction and edit it.
Here's how:
If you have additional concerns regarding your tax payment, please don't hesitate to post them here in the Community. Stay safe!
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