CT double entry Help!
a25
Registered Posts: 1 New contributor 🐸
Hi,
What is double entry for corporation tax? I just trying preper the final accounts for my client but I don't know how to accounts for CT.
I using only spreadsheets.
What is double entry for corporation tax? I just trying preper the final accounts for my client but I don't know how to accounts for CT.
I using only spreadsheets.
0
Comments
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It seems a tiny bit worrying that you have clients yet don't know a rather basic bit of double entry..
However, i'm not here to judge.
Do you mean payment of corporation tax? Bringing in the corporation tax provision?0 -
^What AK said.
However:
CT for the year would be DR Profit and Loss, CR Balance Sheet (liability)
Payment of CT would be CR Bank and DR Balance Sheet (Liab)0
