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Property Taxes
Your company usually receives an annual statement for a property tax after the year the tax was incurred. For example, the property tax bill for 1997 is usually paid in 1998.
To spread out the property tax expense throughout the year it covers, you need to make a recurring monthly journal entry for one-twelfth the amount of the property tax into each month of the year accruing the property tax to a liability account and expensing it to the property tax expense account. When you pay the property tax bill, charge the payment to the accrued liability account.