How to record GIFI 9990 in Wave to pay corporate income tax in Canada
In Schedule 100 Profit and Loss (Income Statement), I will use GIFI 9990 Current Income Taxes to indicate the federal/provincial income tax my corporation just paid for last fiscal year. It's listed under Extraordinary Items and Income Taxes.
This tax should show on a P&L but not as an Operating Expense. How do I enter the payment in Wave? I'd appreciate any help!