On 8/24/07, Chris Sykes <..hidden..> wrote:
HI
I'm new to both LedgerSMB and to this mailing list, so sorry if this is
a FAQ. I was wondering if anybody had some advice as to how to handle
employee expenses within LedgerSMB. For example, if an employee has had
to purchase an item from one of our suppliers using a personal credit
card.
Here is what I do. THis may not work for you if you have a lot of employees.
I would create a liability account for each employee. I would create an AP invoice/transaction and pay it against that account. Then you can pay the employee and move the money from the related asset account.
Longer-run (maybe 1.4 or 2.0) we may want to look at setting this up so that it works for larger organizations (i.e. one account, but debts paid per employee similar to how AP works).
I'd like all such purchases to still be associated with the real
supplier (rather than the employee). The company will still be able to
reclaim VAT on these purchases.
Do I need to set up expense accounts for each of the employees, and
record the transactions against these accounts?
Yes. Make the account a liability account since it represents money owed to employees.
Best WIshes,
Chris Travers
--
Chris Sykes
Next Step Solutions Limited
Unit K6 Liners Industrial Estate, Pitt Road
Freemantle, Southampton, UK, SO15 3FQ
Tel: 02380 224200
Mob: 07726 305061
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