Unpaid Liabilities showing in Profit and Loss under Expenses

Cobey

Hi is there a way for the profit and loss report to not reflect unpaid liabilites (i.e. payg and super)

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Kris_Williams

Unpaid liabilities are reflected on the Balance Sheet. PAYG should not be an expense account but Superannuation is

Acctd4

Gross wages include the PAYG component & this full amount - along with the Superannuation - is an expense to the employer. These show on the Profit & Loss.

In addition, PAYG & Super are also liabilities (because they need to be on-paid) & so these components will also show on the Balance Sheet ☺️

Cobey

Thanks for your help, we need to run a report that excludes any unpaid liabilities.

Any ideas how to do this?

Thanks!

Acctd4

The Gross Wages & Super are still expenses (incurred at the time payroll is processed, regardless of whether the liabilities have been paid or not)

The Profit & Loss is the correct report that you want 😁