How to add Corporation Tax line

[Brucanna]

You can’t automatically add the corporation tax line but you can set one via Settings - Chart of Accounts and then use a Journal. Also for the Balance Sheet set up a Liability account called Provision for Corporate Tax. Same process would apply for Dividends if applicable

If you read the below topics they provide solutions amongst a lot of discussion

What account does corporation tax go under?

I created a new account in chart of accounts called Corporation Tax and set it as a liability so it does not show up under profit and loss for tax purposes as its not an expense. Is this the correct procedure? I was not sure whether I should use the existing account called Tax Payable as that one seems to be calculating the VA and I don’t want to mess up the VAT Return by putting Corporation Tax into Tax payable.

Where to record dividends

Huge thank you for this amazing piece of software! It really has made my accounting a whole heap easier! Just wondering if you can point me in the direction of where to log a directors dividend payment?