Chart of Accounts - Corporation tax account type to show in taxation section
Please can you add an additional account under expense type in the chart of accounts for corporation tax?
One which will automatically post to the profit & loss in between 'Profit on Ordinary Activities Before Taxation' and 'Profit after Taxation'.
The default setting of overhead and having it in with bank fees etc is frustrating.
Gary Young
shared this idea
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Stewart Anderson
commented
The default category for Corporation Tax on the P&L is Administrative Costs.
There is a Taxation section with no account codes categorised.
Please could you move the default for Corporation Tax to be Taxation so that I don't need to move it on every single client.
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Clare Bushnell
commented
Incorrect to be showing corporation tax where it currently is.
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Gariesh Sharma
commented
Such an obvious error. I'm surprised and disappointed that Xero has not fixed this yet.
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Lynda Jenks
commented
The P&L is incorrect without correcting every time.
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Vigna Vinayagamoorthy
commented
Account type for 'taxation expenses' is very important in order to separate corporation tax (current tax and deferred tax) from the operating expenses / overheads of a company.