I need clarification of how to best enter wages/salaries? I will be working from a report issued by a payroll company. I’m not sure how this is “tagged” in quickfile from the bank statement as I assume you must show “total wages”?
Is it best to set up a pension nominal code and under what code heading?
Hi. We have been tagging salary payments, including salary payments to directors using the drop down menu of the tagging function when we check the bank statement. However, none of the costs appear in the P&L or the Chart of Accounts.We have been using QF for a while and I am sure I would have spotted this before now. Has something changed or am I making a mistake.
We haven’t changed anything here for some time. There was a change made a few years back which affects whether the wages were posted to the balance sheet or profit and loss (Account Settings >> Advanced Settings), which would depend on whether you are creating payroll journals or not.
I’ll dig up some more information on this for you and amend my post shortly