LSL CoInvest payments

Procasa
Procasa Member Posts: 9 Novice Member Novice Member
in Reckon Accounts (Desktop)

I have just started with CoInvest and have received my first bill (or payment request) How do I enter this payment to co-invest into Reckon as its a liability for LSL that is not allocated to the individual worker each pay- Do i just enter it as a bill?

Best Answer

  • JudyA
    JudyA Member Posts: 72 Reckon Star Reckon Star
    Answer ✓

    I just enter it as a bill against an expense account labelled Coinvest LSL. It's my understanding of the scheme, that if you pay the full number of days for each employee, then there is no further LSL liability. We do that each quarter, so I don't calculate any separate liability. The employee then applies for their LSL via Coinvest. It gets messy when you don't pay Coinvest for the full amount/days and then there is also a company LSL liability.

    HTH

Answers

  • Procasa
    Procasa Member Posts: 9 Novice Member Novice Member

    This is what i wanted to do thank you I just wasn't sure if it was the correct way

    Thanks again

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