How do I separate owners salary to staff wages to show on a P&L
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Paul Dwyer_7946044
Member Posts: 2 ✭
Reckon Hosted
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Hi Paul,
Welcome to Reckon Community.
In chart of accounts you can setup a new expense account for Owner’s Salary
Please associate the new expense account with the existing salary payroll item for owner.
(If all employees are using the same salary payroll item, then create a new salary payroll item & associate the new expense account)
STEPS TO ASSOCIATE THE NEW EXPENSE ACCOUNT TO THE PAYROLL ITEM
• Click on List > Payroll item List
• Right click on the Payroll item & click on edit payroll item.
• Under Expense account select the new expense account.
All future pays will now be reported separately on P & L
Hope it helps.
Wish you a Merry Christmas & Happy New Year.
Regards,
Nitesh
1 -
When you're doing this - go ahead an setup up a separate Super expense account & payroll item for Director's also. Your accountant will appreciate it.0
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