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Lora's avatar
Lora
Experienced Cover User
4 years ago

employee purchase. clear the deducitons from Payroll Liabilities?

I have sucessfully set up payroll employee purchases but i don't know how to clear the Pay liabilites - Deductions.  there are no instructions for this that i can find.

  • Komal_S's avatar
    Komal_S
    4 years ago

    Hi Lora 

     

    Please take a backup of your file and follow the steps given below to clear the liabilities: 

     

    1) Go to Payroll>>Pay Liabilities>>Filter by "deduction" liability.

    2) Change the Pay from account to a clearing/suspense account and record the liability. 

    3) Record a Receive money transaction (Banking>>Receive Money) with Deposit to account as clearing/suspense account and allocate to the same liability account. 

    • Lora's avatar
      Lora
      Experienced Cover User
      4 years ago

      Hi Komal

      Thanks for replying. I am familiar with the payroll liabilities section but I do have question. 

      • The payroll liability in question is for salary sacrifice “employee purchase” .   I do not know how to clear this from the liabilities "deductions" as it has already been purchased by us and the funds are not an actual deposit into one of the company bank accounts.
      • Ideally it should be allocated to the purchase that the company made on behalf of the employee, but that is not an option in the pay liabilities.

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