Hi. Quick question, I am using Quickfile for the first time this accounting period but my company does have prior accounting periods.
The Corporation tax amount of £754 that was paid in this accounting period but was actually for the previous accounting period is showing in this period’s P+L. I have tried creating a corp tax journal entry with the last day of the prior accounting period to try and get rid of it but with no luck. As I have no prior account/period in quickfile to unlock. is there any way to fix this?
Have you loaded your opening balances into QF? The liability should have been shown in your balance sheet for last year, in which case you would just tag the payment to the liability account, thereby clearing the balance to nil.
Hi Claire
Could have sworn I tried adding the opening balance journal for the CT before without luck but I tried it again, also de-tagged the actual payment in the bank statement and then re-tagged to CT after the opening balance journal and it now works.