[GNC] Contingency Funds was: Re: How to record Personal income tax ?

[Long]

Hello David Cousens,

I have practiced about record tax with "accrual accounting", I don't know
how to fix it if in december, the tax amount re difference what i thought.
Example : every month, I Credit Liability and Debit expense (Tax) about :
1000$
At the end of year: My liability about 12000$. But government told me that i
only need to pay 10.000 for tax.
So, i will refund by credit expense and debit liability. By this way, i will
see in P&L report that at the end of year my expense will be "-2000". 
I'm confusing. Or i am practicing wrong? Hope you will help me. I'm learning
from you.

Regards.



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