6 Liabillity Accounts
From TrueERP wiki
Expense Accounts
Do you understand why the expense accounts are set this way, in relation to grouping?
Expense Accounts These are the costs to the company, irrelevant of payment or not. Use these accounts in the BAS/VAT
Gross Wages - This is typically a simple header account, in that you don't post anything to this account, but use it as a summing account of those under it
Deduction Paid (Default) - This is the expense account for deductions
Leave Paid - This is the expense account for all leave types. Accrued leave is expensed at the time it accrues at the pay rate current at that time. When leave is taken it is expensed to Gross Wages at the actual current rate and the Leave Paid expense account is reduced by the original accrued amount.
Net Wages
Allowance Paid (Default) - This is the expense account for
Super Paid - This is the expense account for superanuation PAYG Expense - This is the tax expense as part of payroll
Sundries - Any expense entered as sundries will show here
Commissions - Commission Paid
