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Post Info TOPIC: National Insurance Contributions
Amanda


Expert

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Posts: 1991
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National Insurance Contributions
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Hi Everyone,

I'm looking for some advise, as I having a blank moment.  National insurance contributions would oyou post them to the Drawings account ot National insurance set up as an Expense.
The previous person posted them to Drawings but I'm not so sure.
I suppose they are also a liability as its money you owe every month, so maybe an account as National Insurance - current liability??? (in Chart of accounts)
If its any help I use Quickbooks.

Thanks in advance!

A xconfuse.gif

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Amanda
Gemma12


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Posts: 41
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Hi

if they are a sole trader then the NIC must go to drawings as these are a personal expense and not a deductable expense of the business


Gemma

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Amanda


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Posts: 1991
Date:
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Many Thanks Gemma, I will leave them posted to Drawings.

regards
A x

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Amanda
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