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  • Property taxes paid with liability account, how to record

    From the answer: your journal entry is correct, debit loan, credit tax expense   If tax expense is going negative as a result, then your original payment of the taxes in full did not post to the same tax expense account as it should.

  • Inventory Question

    From the answer: Tracking your inventory items can be a little tricky, Rami.... To take 20 boxes (50lb raw almonds per box), we can customer a profile for the Roaster and a zero invoice.

  • Employee tax deductions

    From the answer: Technically what you've done will create more income for the employee.... The way to fix this is to edit the bonus check and reset the taxes so they calculate automatically (go through each tax and delete the amount and tab out of the field.)

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