Quarterly payroll liabilities & super doesn't show on P & L

Hi RAH community,

Apologies if this question have already been asked before but I couldn't find it. The quarterly liability cheques does not show on P & L, what setting do I need to change to reflect this please? It could be a simple solution but I don't know how to. Any help will be appreciated. We are a NFP organisation - if this helps.

Cheers,

Rachel

Comments

Zappy

The liabilities are reflected on the balance sheet. The expense is on the profit and loss. Sounds like you need a bookkeeper. Feel free to call me any time. 0407744914

Rachel_10685653

https://community.reckon.com/discussion/comment/20617805#Comment_20617805

Thanks so much Zappy, I am their volunteer bookkeeper :) I was just wondering why it doesn't reflect on the P & L Details in the month when I paid these liabilities.

Zappy

Rachel Hi. Its because when you process wages it records the expense it also creates the liability. Dr Expense Cr Liability. When you pay the super you Dr the liability to clear it and Cr Cash at bank. As a bookkeeper, volunteer or paid, you need to understand this. Its part of the job description. Let me know if I can help.

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