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Confirmation Statement Fees

I was wondering if anyone can help me.

Im not sure how to go about recording my “Confirmation Statement Fee” in QF

I would assume it is processed as a journal and a manual entry created on the bank statement?

Can someone advise and might you know the nominal code to use?

Thanks

Ash

Just tag bank payment of £13 to companies house to Misc Exp

thank you for your prompt reply. May I also ask if you follow the same principle for Corporation Tax payments or does these have to be journaled.

Thank you for your support

Ash

For CT you want the “cost” to appear in on the P&L for the same year as the profit you’re being taxed on, but the payment doesn’t leave your bank until the following year. So in this case you would need a journal in the relevant year to debit the cost code and credit the CT liability nominal on your balance sheet, then the bank tag when the money goes out is to the balance sheet code rather than direct to the expense code.

CT is not an expense item on P&L , it reduces available reserves thus need journal first ideally if not you can tag CT payment to 8500 Corporation Tax Charge for the Year

Thanks FaradayKeynes, that’s something I’ll be needing to do soon.

So to confirm, when the year’s accounts are finalised create a journal dated the last day of the year from 8500 Corporation Tax Charge for the Year (Overheads) to 2320 Corporation Tax (Liabilities) and then when it’s paid tag the bank entry to 2320 to clear that balance?

Yes that is correct process

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