How best to record wages I owe myslef?

[Katie Eldridge]

Hi John,

In a similar situation, I marked the liability account as 'Director's 
loan', as in effect it's an interest free loan from yourself to the 
company (assuming that wages are required to be paid, as opposed to 
dividends which are taken only when company finances permit).  Obviously 
you would want to check with your accountant that this is OK for your 
jurisdiction.

Hope that helps.

On 10/01/17 21:34, John Whitmore wrote:
> I'm running a small company, just me on the wage books. I'm paying myself as
> a normal employee and my company is paying the various taxes out of those
> wages.
>
> The thing is that at times the company can't afford to pay those wages,
> waiting for customers to pay. So I'm paying the tax on my salary but I'm not
> actually paying myself. I consider my company owes me that salary and it'll be
> paid when customers pay.
>
> My question is how best to record this in GnuCash. I could use Accounts Payable
> and make up a ficticious vender. But I'm not sure that abstraction works as I
> might go a few months with the owed money growing a bit. I was thinking that
> it's maybe closer to VAT or Sales Tax and that it's better recorded as a
> liability. My problem with that is that I'll end up with a current account,
> Expense:Wages, and Liability:Wages which is going to take a bit of juggling.
>
> If I have this right at the end of the month I could take money from
> Expense:wages to Liability:wages and then when the companies ship comes in
> transfer money from CurrentAccount to Liability:Wages.
>
> Sorry this is probably a stupid question, as everybody says here "I'm not an
> account but..." so anyhow just though I'd check that a Liability is a good way
> to do things. Thanks for any advice for all the non accountants ;-)
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