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How to record quarterly tax payments
mhiggins
Member Posts: 1
Hello, currently when I make a tax payment from my business checking account, that payment is getting recorded as a tax payment and appearing under liabilities as a negative amount. In 2021, I made payments of $400 last year for quarterly taxes, however, the services I offer in my business do not require me to collect taxes from customers on my end. Now in 2022, I'm still seeing a -$400 in my liabilities for my tax. My taxes are complete for year 2021. How do I reconcile to remove the -$400 and properly record my tax payments each year?
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