Hi! we loaned an employee some money and deducted it direct from wages, how do i record this on solar?
Hi Mary,
I assume you provided the employee loan by increasing the regular payment to the employee, and accounted for the repayment by reducing the regular payment.
In that case, firstly create a new asset account called 'Loan to Sally Smith' (using your employee's name)
In case you haven't seen it, here's the page showing how to record employee costs:
http://www.solaraccounts.co.uk/help/how-to-record-paye-and-ni-contributions.php
To increase the loan, just add a third line to the 'Allocate To Account' table with the Account set to 'Loan to Sally Smith' and a positive amount.
To decrease the loan, do the same (ie. add a third line allocated to the loan account) but with a NEGATIVE amount.
Regards,