Hi all,
when the company pay corporate taxes, uses the account "corporate taxes" (expense). My question is, when the company receives tax refunds (state and federal) of prior years 2016, 2015, are these posted by using also the account corporate taxes (credit)? or I should create another account to post these refunds? Thank you
when the company pay corporate taxes, uses the account "corporate taxes" (expense). My question is, when the company receives tax refunds (state and federal) of prior years 2016, 2015, are these posted by using also the account corporate taxes (credit)? or I should create another account to post these refunds? Thank you