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The Book-keepers Forum -> VAT, Payroll & Tax -> post tax deductions
Post Info TOPIC: post tax deductions
Rhianrach


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post tax deductions
 

An employee has paid for an item he got direct from a supplier direct from his wages. I have deducted it after tax so that bit is ok. The invoice for the item will be posted as normal to nominal x. When I post the wages journal would I be correct in posting the portion that he has paid for the item to the nominal as a credit that the original invoice was posted to? Or would I post it to whatever sales nominal?



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Steve
Rhianrach


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bumpity bump or have I answered my own question?

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Steve

Stardoe


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Hi Steve,

If this was paid for through the company and then the employee reimbursed the cost through his wages then yes I would post it as a credit to the nominal that the original invoice was posted to as it will then not show in the P & L. Can't see another way of doing it, but someone else might have a better idea?

Pauline

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Pauline
Rhianrach


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Hi Pauline, thank you for the reply.

I originally thought the same as you, then my mind went into over-analysis mode and thought maybe it would be considered a sale at zero profit. Both have the same effect overall, but at least the way you mentioned doesn't over-state purchases or sales. Things like this really confuse me biggrin



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Steve
Stardoe


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Hi Steve,

Join the club, but then I'm easily confused!

Pauline

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Pauline
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