Wages Liability

[Bill Wisse]

I'm sending this again, because it hasn't show up on the list as yet.
Sorry if it appears twice.

On Monday 18 October 2004 08:28, David Harrison wrote:
>  Arrgh, dang word wrap messed up my examples.  Here are the two
> entries again, hopfully these ones look right.
>
> Wages (expense)                                    $1,000.00
> Employee benefits (expense)                          80.00
> Employer portion of CPP and EI (expense)         ?
>            Bank
>    Net pay
>            Wage deductions payable                                ?
>            Employee benefits payable                            80.00
>
>
> Employee benefits payable                         $1,000.00
> Employee benefits (expense)                            80.00
> Employer portion of CPP and EI (expense)            ?
>            Bank
>     Net pay
>            Wage deductions payable                                  ?
>            Employee benefits payable                              80.00

If you do it like that, it won't show up as a liability.
Aha, I think I see it now.
Because GC hasn't got a payroll system you have to create a ( Vendor) invoice 
for this employee for her Hol + Sickpay ( and alter the amount every payday.)
In this case it will show up as a Liability.
( You have to do the same for the money you owe to the  IRD).
Still the question remains : what expense account to use . Mmmmm

-- 
The vast majority of our imports come from outside the country."
- George W. Bush, January 29, 2001, Washington, DC

Greetings from
/bill at 169 west , 19 south.  
Disclaimer: Any errors in spelling, tact, or fact are
transmission errors."