Novated lease set up in Reckon Hosted

ShelleyG
ShelleyG Member Posts: 31 Reckoner Reckoner

What is the correct way to set up the 2 payroll items for a novated car lease? PreTax salary Sacrifice (excluding GST) and the Post Tax employee contribution.

We are receiving an invoice to pay each week so that will be entered into accounts payable.

Does it need to run through a clearing account so that the payroll liabilities are cleared?

Best Answer

  • Acctd4
    Acctd4 Accredited Partner Posts: 3,820 Reckon Accounts Hosted Elite Expert Reckon Accounts Hosted Expert
    edited November 26 Answer ✓

    Hi @ShelleyG

    I have a detailed guide I've written up on this. Feel free to email me direct if you'd like me to send it through to you 😊

    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!)

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