I'm totally surprised this is so hard. I can't be the only customer to have paid income tax, admittedly it was only $20!

So in a simple scenario, Income - Expenses = Profit.

However I earned a small profit ~$50, and paid $20 tax. So in the following financial year I paid the tax. If my Tax on Income account is an expense account, it will treat the expense as part of the above equation, which it shouldn't as this is not a deductible expense.

So it should be Income - Expenses = Net Profit Before Tax - Tax = Net Profit after tax.

Now I can customise the P & L report so it does this, but it doesn't help with retained earnings. For now I've made my Tax on Profit an Off Balance Sheet account.

But my profit is $50, tax is $20, so my retained earnings is $30.

So how do I make this work in Odoo?