Hi, I currently work on Exchequer and I will now also be doing work for a company that uses Quickbooks. The company pays some pension payments for the Directors. These payments are entered as a Nominal Entry on Exchequer by debiting Directors Renumeration and Crediting the Current Account they are paid from. The same sort of entries are used for Employee Wages, Bank Fees etc.
How are these type of entries dealt with in Quickbooks? For instance if the bank charges me quarterly fees then I don't have a bill per se, instead I have a direct debit on my bank account that I have to account for. I would need to debit the GL for Bank charges and credit the GL for the current account - how do I do that in Quickbooks?
Sorry for the long question and I hope it makes sense!
