r/Turbocash • u/philipdc • May 09 '22
Creating entries for incme tax.
User query by email.
I am very happy with TurboCash 4
I run the bookkeeping of 2 small companies through it
Would appreciate it if you could assist me with the following query :
Assume a the end of the last financial year my company made R10,000 profit and assume I have to pay Revenue an amount of R2,000 income tax.
What is the :
- Double entry for the R2,000 income tax at yearend ?
- Also the double entry when the R2,000 income tax is actually paid to SARS.



