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  1. Chart of Accounts - Corporation tax account type to show in taxation section

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    submitted  ·  9 comments  ·  Banking & chart of accounts » Chart of Accounts  ·  Admin →
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    Peter Richman commented  · 

    Homepage - make all the charting work

    At the moment Corporation Tax is located in 'Overheads', meaning that all of the charting, reporting and analytics is incorrect.

    Jazzy new home page features are effectively just wrong, because even if you play with layouts in individual P&L reports, the fudamental issue is that the numbers are wrong everywhere else because the chart of accounts places Corporation Tax 'before tax', which is clearly incorrect, wrecking all the charting and reporting features thoughout Xero including on the home page.

    So now the home page is littered with a load of misinformation you have to ignore. If the fundamental chart of accounts limitation was corrected all of these features would be great, as it is they're all incorrect.

    Other citations of this problem:
    https://productideas.xero.com/forums/967136-banking-chart-of-accounts/suggestions/45162100-chart-of-accounts-corporation-tax-account-type-t

    https://central.xero.com/s/question/0D51N00005Cxea0SAB/how-to-move-corporation-tax-expenses-to-show-under-profit-before-tax-on-new-pl

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    Peter Richman commented  · 

    This is a product failure as far as an accounts package goes. It also means we can't use any of the new reporting functionality because tax is mistakenly in expenses before tax, which is crazy.

    Peter Richman supported this idea  ·