Hi all, does anybody know how to input trivial benefits (3 x £50 vouchers) and under what category?

Hi @sales30 , thanks for posting to the community. 

This isn't something I've come across before. @john-pero , do you know how you would input these benefits?

Thanks 

@JackS thanks for the shoutout. I have a couple of ideas but need to know a little more from @sales30 on what the vouchers are for.

Are these gift vouchers you plan on giving away to customers?

Are the vouchers you purchased to give to employees?

Are they discounts you acquired to use with suppliers?

Those three possibilities come quickly to mind and the middle one can be a stickler. Here in the US, for example, a gift certificate or card or cash, even a trivial amount, is considered a taxable fringe benefit. Alas I do not know the ins and outs of UK tax law on this (but that's why google is everyone's friend, lol)

So, awaiting further clarification of the makeup and intent of the vouchers and we'll tackle it in detail then.

Hi

We're in the UK, a new trivial benefit system has been introduced by HMRC whereby you can purchase up top 6 x £50 vouchers to either use as gifts or give to yourself/members of your household with no tax liability

We bought 3 at Christmas but there doesn't seem to be an option within quickbooks to allocate these to, may be payroll/director dividend etc but that would in effect become taxable?

Thanks

Since these have no tax liability to the recipients you would record the purchase as a regular expense not necessarily part of payroll although you could add an expense account called "non-Taxable Employee Benefits to clarify exactly what it is.

Since these are meant to be given to and used by the employees or owners there is no necessity to track their value in QuickBooks after their purchase. They would be the same as if you spent the same 3 x £50 for petrol or rent or any other allowable business expense. You could in the memo field identify the recipients but there is no tracking or paper trail after that.

If you have not given them all out, my address is................

lol

Hi @john-pero,

Was having this same problem and your answer helped, although I'm unclear on what "detail type" to enter it under. Obviously it's a mandatory field but none of the categories seems to apply to a non-taxable Gift card (trivial benefit)

What are your thoughts?