Employee Compensation Perks Bookkeeping Question

by Hazel
(Arizona)

Employee Compensation

How do I account for and track employee compensation perks? For example where would I categorize tickets to a Broadway show or sporting event?

Employees Deduction Remittance

by Rebecca
(Canada)

Employees Deduction Remittance

I have unfortunately taken over the bookkeeping services in my office for my friend who passed away. I am struggling with some mistakes I have made and don't know where to turn:

Every month that I do the Employees Deduction Remittance I must back date the check to the end of the month that I am remitting for.

For December's Employees Deduction Remittance I wrote the check in January and it has already been sent. It should have been dated December 31, 2010.

When going to printout my report for January that tells me what I owe for the end of January - it is not correct now. I have no idea how to fix this.

Please help me as I am losing sleep and health over this.

Also, when remitting T4 slips the government sent me a form which told me that my totals didn't add up correctly for my employer's EI amounts in December 2010.

I found my mistakes but I am not sure what General Ledger to write these on. I can't do backdated entries and if I have to do entries now in my GLs, that will mess up my chart of accounts for further remittances.

I think I could do a GL adjustment but I am not even sure what to do with that. Please help!!

Employee Wellness Program

by Ana
(Maryland)

How do I account for a $50 monthly stipend given to employees who chose a non-HSA health plan, intended for expenditures like gym memberships, sports gear, or health supplements?

Reconciling an Employee's Balance

by Isaac
(Virginia)

Hi, We are a small contracting company, and we use Quickbooks. One of our employees got another job, and we are trying to reconcile his balance based on a number of things: loan taken out, employee advance on tools, vacation hours not spent, and his last paycheck. What we want to do is use his last paycheck, by his permission, against his other accounts. It would look something like this:

Paycheck: 457.87
Vacation Hrs (22): + 407.00
Loan balance: - 657.75
Employee Advance: - 400.00
Remaining balance: - 192.88

How would I put this journal entry in. Would I have to pay the check out, and the taxes, and just exclude the paycheck amount as part of the reconciliation, or could I use it as a positive balance toward his final balance? If that's the case, how would I put the rest of the journal entry in.

Thanks!

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