Payment on account - The Book-keepers Forum (UK)

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TOPIC: Payment on account

Amanda

Expert

Status: Offline

Posts: 1991

Date: Thu Oct 16 14:28 2008

Payment on account	Permalink

Hi Everyone, What do you do on Quickbooks when my cusomter has to pay some Tax to HMRC on account. It was arrange with his accountant that because his Tax bill for the other yr that he paid in January of this yr was quite high as he had had a really good yr, they suggested that he pays every 6 months an amount to the HMRC as payment on account for 07/08 accounts which are due in in January. My question is how do I account for it in Quickbooks. I know on SAGE there is a button for payment on account but there isn't one on QB, unless I can't find it. I know when you pay a Direct Debit you go to Write cheques from the banking menu but with this tax I will have to tie it up in January to the Amount the HMRC says he owes for 07/08. Nay help I would be most grateful Many thanks A x __________________ Amanda

morgwick

Senior Member

Status: Offline

Posts: 246

Date: Fri Oct 17 11:37 2008

	Permalink
Hi, I don't use quickbooks, but I personally would wait until your client has actually paid the tax and then just Cr the bank and Dr an Income tax account, or Drawings. __________________ Gill

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