Income Taxes Paid Entry
I am having trouble finding documentation on how to document income taxes paid (as in, I owed taxes to the government and paid them)...I am assuming this is similar to sales tax...using journal entries, but I am not seeing specific instructions on the names of accounts and how to make it all balanced in the balance sheet (which I assume also is something I should aim for. ) I just need a very specific step by step process...I know this should be fairly straightforward as it is a one time a year payment, but it seems hard to find.
Right now as an imported item from my bank account it is just hanging out as an uncategorized expense. Thanks for any help.