Hello, could you kindly assist us with these questions from our accountant who is not familar with BHQ? I’m currently working on the accounts and I have few quick questions , hope you don’t mind: · Nominal ‘Unpaid Employee expenses’ – are these actually the expenses that are due for payment at year end? · Nominal ‘Credit Card payables’ – is this creditors at year end? Thank you
Hello, could you kindly assist us with these questions from our accountant who is not familar with BHQ?
I’m currently working on the accounts and I have few quick questions , hope you don’t mind:
· Nominal ‘Unpaid Employee expenses’ – are these actually the expenses that are due for payment at year end?
· Nominal ‘Credit Card payables’ – is this creditors at year end?
Thank you
Here's an explanation of the different accounts:
Unpaid Employee Expenses - these are expenses that have been recorded as paid by employees, but you have not reimbursed the employees the full amount that they are owed yet (you reimburse people by recording wage payment for them and filling in the expenses value).
Credit Card Payables - these are bills that you have paid for by credit card, but the credit card bill payments you've recorded don't cover the amount you spent on your credit card.
John