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vickieahkiow-icl
Level 1

How to record PAYE and UIF payment?

 
1 Comment 1
Rea_M
Moderator

How to record PAYE and UIF payment?

Recording PAYE and UIF payments in QuickBooks Online (QBO) is a breeze, and I'm here to guide you how, @vickieahkiow-icl.

 

Pay As You Earn (PAYE) and Unemployment Insurance Fund (UIF) payments are considered business expenses in QBO. Since you've already paid for them, you can record each one of them as an expense transaction. To do this, here's how:

  1. Go to the + New button.
  2. Select Expense.
  3. Enter the appropriate payee, payment account, date, and method.
  4. If you want detailed tracking, enter a Ref no.
  5. From the Category drop-down menu, select the liability account that the PAYE is posting to.
  6. Enter the Amount and other necessary information.
  7. When you're done, select Save and close. Repeat as needed. 

 

To manage your business expenses in QBO, you can check out this article: Enter, edit, or delete expenses in QuickBooks Online.

 

Once you're done, you can pull up expense reports (i.e., Transaction List by Account and Expenses by Date). Then, apply the appropriate customisations to reflect all payments you make. Just go to the For my accountant section from the Reports menu's Standard tab.

 

Also, I'm adding these articles to learn more about PAYE and UIF liabilities:

 

Let me know if you have other taxes concerns and inquiries about managing business expenses in QBO. Drop a comment below, and I'll gladly help. Take care, and wishing you continues success.