I’m currently using the built-in salary tagging option for salary payments from my current account. This is slightly complicated by teh fact that they are directors’ salaries and therefore also get journalled automatically into the Director Salary account. How do I account for after-tax employee pension contributions? Do I have to account for them as wages and then journal them out of wages and into employee pension contributions when I pay the pension provider? Or is it sufficient to simply count them as wages and journal the employee’s contribution into wages when I pay the pension provider?
I’m very new to bookkeeping and QuickFile so I’m getting a bit confused about what I need to journal and when!