How do I pay expenses

[Top Hat]

How do I enter into my accounts program, the paying of employee expenses?

This is the scenario:
Employee goes to London on train, and buys his ticket with his own money
I need to give him that money back.

I could enter a bill for the train ticket and simply pay the employee, but what is the correct way to go about logging it into my account package (Quickbooks)

Thanks in anticipation of your helpful answers

 

[Alpha]

You need a way of

a) corrolating the expenses and,
b) authorising them.

If it is a regular occurrance then produce an expenses form using a spreadsheet (I can send you an example if you wish).

You can reimburse the employee form the spreadsheet in whichever way you wish...cheque, BACS to their account or through the payroll.

You would then post the expenses via the spreadsheet analysing the expenditure into the cost categories eg travel and subsistence, entertaining etc.

You could create a supplier account for the individual and post the expenses as an invoice(and pay the 'invoices') or even a seperate bank account and the payment posting would be a bank transfer.

The third option is to post the expense form as a journal and create a creditor nominal account for the individual. The bank payment then being coded to this.

You would have course need to report these payments on a P11d unless you (or your accountant on your behalf)apply for a dispensation

 

[SHAZA]

All you need to do is go into the following:-

Write Cheques
put in the name of the employee, date, cost,etc
allocate the expense to 'travel costs'(or whichever expense account you choose)

then make the refund to the employee by either cheque or cash.

Hope this makes sense