An Accounting Question

[Russell Mercer]

I think it is probably showing up correctly. If you entered it as
Liability, then it will show up as such.  If you wanted it to be an
Expense, then you would need to create a category called "Expense",
with a type of expense.
Like this:

Expenses / Current Expenses / Company Tax

This should be different than Liabilities.

Hope this helps.

Russell

On Wed, Aug 11, 2010 at 5:18 PM, LemanRus <pndatang4 at gmail.com> wrote:
>
> 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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