5 Expense Accounts
From TrueERP wiki
Expense Accounts
Do you undestand 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 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. Super Paid - This is the expense account for superanuation Net Wages - This account records the actual cash paid to the employee Deduction Paid (Default) - This is the expense account for deductions Sundries - Any expense entered as sundries will show here Allowance Paid (Default) - This is the expense account for Allowences PAYG Expense - This is the tax expense as part of payroll
