An Accounting Question
LemanRus
pndatang4 at gmail.com
Wed Aug 11 20:18:28 EDT 2010
I apologize if this is not the correct forum.
I created an account for
Company Tax
Liabilities / Current Liabilities / Company Tax
and a Checking Account
Assets / Current Assets / Checking Account
I debit my Checking Account and credit the Company Tax Account. Which
results in a correct balance in the checking account but company tax is
showing up as a liability.
I feel this is not correct. How do I unwind this?
Assistance appreciated.
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