2 years ago
Year end shareholder salary allocation
Hi,
In AccountRight I couldn't find a suitable account to record a journal for shareholder salary allocation.
For example, the company has made a profit of $50,000 in year 2022, the sole shareholder didn't have PAYE salary during the year. The company desided to allocate $48,000 profit under the shareholder's salary to make the income tax in a effective way. What would the journal entry be please?
Thanks, Catherine