Hello,
Our salesman paid his own medical benefit and MSP and by the end of the month, he will get the reimbursement from the company. How can I record this transaction?
Thank you for your help.
Moto
Hi Moto,
You can setup a reimbursement income by following the article link below:
How do I create a new payroll income?
When you do a paycheque to your salesperson/employee, you will see that reimbursement income on the right hand side of the income tab. You can use it and pay back the medical benefit and MSP. It only affects the net pay but not the gross pay. When you post the entry, it will credit the bank account and debit the expense account you link to it.
Hope this helps
Hi Moto,
You can setup a reimbursement income by following the article link below:
How do I create a new payroll income?
When you do a paycheque to your salesperson/employee, you will see that reimbursement income on the right hand side of the income tab. You can use it and pay back the medical benefit and MSP. It only affects the net pay but not the gross pay. When you post the entry, it will credit the bank account and debit the expense account you link to it.
Hope this helps
Remember that part of benefit may be considered taxable income if company pays for it. This year effective Jan1/13 critical illness was added to taxable benefit list.
I would just create a new taxable benefit income field, link it to a new payroll account and use the account to reconcile the salesman's payments with the companies.
*Community Hub is the new name for Sage City