When running the P&L reports , some debits do not always pull through including pension contributions and tax. The items appear on bank statements and are tagged. Is this a common fault or unique and resolvable?
Hi @Ross1
Have you checked the nominals that the bank transactions are tagged to and that the dates correspond with the P&L?
Aha, thank you
Ross Carter
Acton Court
07415924256
The payments to your pension provider or to HMRC for tax are unlikely to be profit & loss transactions, they’re just balance sheet items cancelling out the liability that was created when you ran the payroll. The P&L entries will be on the date of the payroll journal.
As Ian rightly says, tax payments arnt expenses. So they wouldn’t show on the P and L.
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