Please help me figure this out. I have overlooked a 2018 withholding tax payable and I just paid for it in January of 2020. How do I record it without making a mess of my current withholding tax record?
I have recorded it as follows:
Credit: Chequing Bank Account
Debit: EI Payable
CPP Payable
Federal Income Tax Payable
But I have noticed that my EI Payable, CPP Payable and Federal Income Tax Payable are not balanced due to this payment.