How to record GIFI 9990 in Wave to pay corporate income tax in Canada

SandyL

In Schedule 100 Profit and Loss (Income Statement), I will use GIFI 9990 Current Income Taxes to indicate the federal/provincial income tax my corporation just paid for last fiscal year. It's listed under Extraordinary Items and Income Taxes.

This tax should show on a P&L but not as an Operating Expense. How do I enter the payment in Wave? I'd appreciate any help!

Rob88

Did you ever get an answer? I have the same question.

SandyL

Hi, no resolution yet. There's a couple of strings going in other Discussion boards:
https://community.waveapps.com/discussion/6745/record-income-tax-payment#latest
https://community.waveapps.com/discussion/7710/non-operating-expenses-and-recurring-expenses#latest
You might find a workaround to use there and be sure to Vote them up.