UNIKBOK / Swedish bookkeeping examples / Interest on the tax accountPå svenska
How to book interest on the tax account
The Swedish Tax Agency charges SEK 1,000 in interest expense, or credits SEK 1,000 in interest income.
How to book it
Interest expense (non-deductible)Both methods
| Account | Account name | Debit | Credit |
|---|---|---|---|
| 8423 | Kostnadsränta för skatter och avgifter (Interest expense on taxes and fees) | 1,000 | |
| 1630 | Skattekonto (Tax account) | 1,000 | |
| Total | 1,000 | 1,000 |
Interest income (tax-free)Both methods
| Account | Account name | Debit | Credit |
|---|---|---|---|
| 1630 | Skattekonto (Tax account) | 1,000 | |
| 8314 | Skattefria ränteintäkter (Tax-free interest income) | 1,000 | |
| Total | 1,000 | 1,000 |
Common mistakes
- Booking the interest expense as a deductible interest cost.
The UNIKBOK accounting software has a ready-made template for interest on the tax account. Take a photo of the document, and the software suggests the accounts, VAT and journal entry for you.