Holiday hours owing

Jenny Byrne
Jenny Byrne Member Posts: 65 Reckoner Reckoner
in Accounts Hosted

Does the holiday hours showing on a balance sheet mean that that is the hours owed to the employee

Answers

  • Alexis McKeown
    Alexis McKeown Reckon Staff Posts: 368 Reckon Staff

    Dear @Jenny Byrne ,

    If it's showing on the Balance Sheet, then that is the amount of hours an employee has taken, and has been paid in Leave.

    Kind regards,

    Alexander McKeown

    Reckon Senior Technical Support

  • Jenny Byrne
    Jenny Byrne Member Posts: 65 Reckoner Reckoner

    Alexander, the amount shown on my balance sheet is the hours owed to the employee. So what have I done wrong

  • Acctd4
    Acctd4 Accredited Partner Posts: 3,736 Reckon Accounts Hosted Elite Expert Reckon Accounts Hosted Expert
    edited June 28

    @Jenny Byrne

    Your balance sheet is correct … A balance sheet shows the liability (eg what is owed) Once it’s “ paid” eg on a Paycheque, it’s an expense (on the P&L)

    Shaz Hughes Dip(Fin) ACQ NSW, MICB

    *** Reckon Accredited Partner (AP) Bookkeeper - specialising EXCLUSIVELY in Reckon Accounts / Hosted ! ***

    * Regd BAS Agent (No: 92314 015)* ICB-Certified Bookkeeper* Snr Seasonal Tax Consultant since 2003 *

    Accounted 4 Bookkeeping Services

    Ballajura, WA

    shaz@accounted4.com.au

    https://accounted4.com.au

    (NB: Please give my post a Like or mark as Accepted Answer if I have been able to resolve your query as this helps others when seeking solutions!)
  • Jenny Byrne
    Jenny Byrne Member Posts: 65 Reckoner Reckoner

    Thanks Shaz.

    I am finalising the books to hand over to the accountant.

    The business is winding down and I have almost retired.

    I appreciate the help you have given me and others over the years. You certainly know your stuff.

    Jenny😀

  • Acctd4
    Acctd4 Accredited Partner Posts: 3,736 Reckon Accounts Hosted Elite Expert Reckon Accounts Hosted Expert

    No problem @Jenny Byrne … Happy to help ☺️

    Shaz Hughes Dip(Fin) ACQ NSW, MICB

    *** Reckon Accredited Partner (AP) Bookkeeper - specialising EXCLUSIVELY in Reckon Accounts / Hosted ! ***

    * Regd BAS Agent (No: 92314 015)* ICB-Certified Bookkeeper* Snr Seasonal Tax Consultant since 2003 *

    Accounted 4 Bookkeeping Services

    Ballajura, WA

    shaz@accounted4.com.au

    https://accounted4.com.au

    (NB: Please give my post a Like or mark as Accepted Answer if I have been able to resolve your query as this helps others when seeking solutions!)
  • Jenny Byrne
    Jenny Byrne Member Posts: 65 Reckoner Reckoner

    Alexander McKeown was wrong. Shaz told me the correct answer

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