Hello,
just wondering how to record some money owed. Salary is owed to someone but has not been paid i.e. it has not physically left the company bank account but it will be paid in the future so I need a record of it.
Do I just record it as a general transaction from our current account to the 'salary' account?
Thanks in advance for your help.
Fiona
Hi Fiona,
Just in case you haven't seen it, here's our help topic on recording salary:
http://www.solaraccounts.co.uk/help/how-to-record-paye-and-ni-contributions.php
In your case you should create a new liability account called 'Money Owed To Employees' and use this account in the Paid From Account of the Money Paid Out window. When you eventually pay the employee record another Money Paid Out transaction from the Cheque Account to the 'Money Owed To Employees' account.
Regards,
