SMP Refunds
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monkeypuzzle47
Registered Posts: 134 Dedicated contributor ๐ฆ
can i ask please, how do we record smp refunds in the accounts? I have not done this before.
i have entered the usual annual journal to record the wages etc, however my client received refunds plus compensation from hmrc and i want to be sure the correct way to record.
advice appreciated, as always
regards,
Jenny
i have entered the usual annual journal to record the wages etc, however my client received refunds plus compensation from hmrc and i want to be sure the correct way to record.
advice appreciated, as always
regards,
Jenny
0
Comments
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I normally offset them against wages on P&L.0
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..and the compensation to other income.0
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