Employee contribution towards motor vehicle

Michael Corrigan_9203178
Michael Corrigan_9203178 Member Posts: 70 ✭
edited September 2020 in Reckon One
Our company has recently purchased a car for use by one of the employees.  As part of their employee contribution (to reduce FBT liability to nil) they are paying for fuel, insurance and other expenses.  How do I record the payments made by the employee towards the use of the car.  Do I set up a liability account for titled “FBT Employee Contribution” and claim the expenses (including GST credits) on the other side.  I am just looking for some advice.

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