(Thanks for previous fast reply)
In reports I can generate Profit & Loss Simple which gives me Net Income figure but this can't be used to quickly calculate Corp Tax as it includes expenses such as corporation tax payments themselves.
Is there a way to generate a gross profit figure so a quick calculation of corp tax to set aside on a monthly basis can be done?
Thanks
Gary
Hi Gary,
(You're welcome!)
Unfortunately no, you will need to manually add the corporation tax back to the Net Profit figure to derive the 'profit before tax' figure. One quick way of doing this might be to export the Profit and Loss report to a spreadsheet, then edit the spreadsheet in Microsoft Excel to calculate the 'profit before tax'.
Regards,