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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