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How do I categorise pay correctly?
I'm trying to add an explanation for salary pay to one of our employees. I went to 'Payment to User', then selected him, but the only option it gave me was drawings.
Drawings refers to the withdrawal of money by the owner of a business. I just want 'salary'. Am I missing something obvious?
Drawings refers to the withdrawal of money by the owner of a business. I just want 'salary'. Am I missing something obvious?
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Inappropriate?In line with our 'keep it simple' mantra, at the moment we only manage salaries for Directors of Limited Companies. There's no reason why we couldn't extend that to Employees of Sole Traders, as you would need.
Do you also need to track Payroll and your PAYE/NI payments to the HMRC - or would it be sufficient just to be able to explain Salary payments (and PAYE/NI payments) correctly? -
Inappropriate?We're adding Salary Payments to the list of User Payment types for sole trader companies. You'll see that next Monday night in release 'Paneer'.
As well as the question above about PAYE/NI, do you need to track expense accounts for yourself and your employees (currently tracking the outstanding balance, and reimbursements are only enabled for Limited Companies)? -
Inappropriate?We do need to track PAYE stuff. We're currently doing it manually, but if you can provide that as well, we won't complain! -
Inappropriate?Is "PAYE & NI Paid" the correct category for the net salary I pay myself? -
Inappropriate?No, that's the PAYE and NI payments you make to Her Britannic Majesty's Revenue chappies.
You want Money Paid to User > Net Salary.
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Inappropriate?Aha! Thank you for the correction.
EMPLOYEE
