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Post Info TOPIC: Tax and Sage
DJ


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Tax and Sage
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Hi

    New to this forum and hoping you guys can help me

I have done my SA return and i need to pay some tax some now and some later also some on account i am going to pay from my business account.  I have Sage i know i have to cr the bank but dont know how to do the rest

 

If anyone can help thanks

DJ  



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Wella


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Hi DJ

I am assuming you are a self employed sole trader. In which case you would Dr Drawings, as your tax is a personal payment not a business expense

HTH

Bill



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Rhianrach


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Yip, I post the business owners tax payments to drawings. It would be great if tax was an allowable expense, bit like an inception style of tax.

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Steve
DJ


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Hi

 Thankyou thats what i was thinking and am i right to put any payment on account to tax man as a prepayment and the payments would come from my profits .

i am a sole trader

DJ  



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Rhianrach


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It doesn't touch my books until I pay it as it has no relevance to the accounts apart from showing where X amount has gone from the bank account. Personally I would just CR bank and DR drawings as and when you make the actual payment.

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Steve
Wella


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I would do the same a Steve



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