Accrued Accounts Payable: Business and Property Taxes
When You Are NOT on the T.I.P.P.
Just like I wrote in my previous post, Prepaid Property Taxes: T.I.P.P. and Journal Entries .. the reason one might adjustment the business and property tax accounts on a monthly basis, or at the year-end .. is to make sure that the expense is correct for the fiscal period. I provided an example what to do when you are on a T.I.P. Plan that might be over 10 months .. But, what if you aren’t on the tax instalment payment plan? Should you be adjusting your expense accounts anyway? Or Leave it alone as an expense when paid?
• Accountant •
Bookkeeper •
Income Tax Preparer •
Systems Consultant •
Blogger •
HART-Empire Network •
Canadian •
Earthling •
Husband and Pet Owner •
Brilliant & Amusing •
No doubt there are some issues to be...
