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The Book-keepers Forum (UK) -> General Book-keeping & Accounting -> Moving cost of wages to another company - 2nd brain block of the day
Post Info TOPIC: Moving cost of wages to another company - 2nd brain block of the day
Cheshire


Master Book-keeper

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Moving cost of wages to another company - 2nd brain block of the day
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Hi

Ive got three companies who all run their own payroll. A couple of staff were paid from one (company A) before their own payroll (Company B) was set up.  How is the best way to show the payroll costs in the correct Company (A)?



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 Joanne 

Winner of Bookkeeper of the Year 2015, 2016 & 2017 

Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.

You should check out answers with reference to the legal position
Cheshire


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noyawn



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 Joanne 

Winner of Bookkeeper of the Year 2015, 2016 & 2017 

Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.

You should check out answers with reference to the legal position
Sharon Eyre


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I would do it as an inter company loan-show the payroll costs on the correct company including the net pay but create an inter company loan and put a debit to net pay, credit loan in there and in the company that loaned the money put a debit to loan and credit to bank

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Regards

Sharon
Cheshire


Master Book-keeper

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Thanks Sharonnod.gif



__________________

 Joanne 

Winner of Bookkeeper of the Year 2015, 2016 & 2017 

Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.

You should check out answers with reference to the legal position
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