Articles Blog
Reckon / Quickbooks / MYOB – Claiming Union Fees in Building Industry
- Details
-
Published on Friday, 11 December 2015 14:47
One of our bookkeepers at a client office said the owner was claiming union fees which are required (to be allowed on a particular building industry job site).. he pays this for himself and his son (his wife runs a few errands and draws a small wage also). The bookkeeper allocated this to "other employment expenses” .. but not sure if that is the correct way to process.. the owner also pays for fuel and phone, etc for his son out of the business and wondered if this should this be fringe benefits in their weekly wages or not?
Answer - Union fees are necessary in certain types of industry, and are claimable. They can be put to Other Employer expenses, or a separate account “Union Fees” (preferred) so they are easy to see under employment section (if there is such a group in the list of accounts). The other vehicle expenses should be in their expense categories also, with a clear note in the memo so that regular ones eg “fuel – son” can be seen easily – create Recurring (MYOB) or Memorised (Quickbooks) transactions so you don’t have to set up all the detail each time to speed up data entry.
Need help? Not sure?
Call for FREE 30min advice / Strategy session today!
Call 0407 361 596 Aust
~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~
