Enter Child Support Payments |
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Create a Liability GL Account called Child Support (or similar).
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When entering the Payroll Journal, add the child support as a credit. This makes up the child support deduction.
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When paying the child support to a third party, enter a chequebook payment from the bank account to the liability account. This will net off the child support GL account.
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Further information Clear the Historical Balancing Account Suggested End Of Month Procedures Enter Government Support Payments Purchase a Capital Asset Under Finance Record Debtors/Creditors Contras ATO Reportable Sub-Contractor Payments Share Utility Expenses with other Businesses Understanding Debits and Credits Use Debtors and Creditors Adjustments |