Hey there, can you let me know how I insert corporation tax due into the system? Do I have to set up a new ‘expense’ account and liability or can I show it properly below the profit line?
You’ll have to enter the corporation tax as a manually journal entry. These can be found in the top nav under Accountants & Reports.
If you’re not familiar with journal entries we’d advise you talk to you account. We can’t give advice about Tax or what accounts to use as we don’t have knowledge of your company and we’re not accountants.
Hope that helps, your accountant should be able to guide you pretty easily.