Solved
How can I avoid employee pension contributions registering twice on the P&L?
My P&L automatically logs Pension Contribution ER each time I run payroll. However, when I then physically pay the same cost to the pension provider, and log it as an expense within Quickbooks, the figure shows up twice on my P&L.
I could avoid logging the payment as an expense (which would remove the double counting on the P&L) but then my bank balance does not reconcile as the bank balance shows net pay figures only and does not automatically log the pension contribution in the same way the P&L does.
Any help and guidance would be much appreciated.
I could avoid logging the payment as an expense (which would remove the double counting on the P&L) but then my bank balance does not reconcile as the bank balance shows net pay figures only and does not automatically log the pension contribution in the same way the P&L does.
Any help and guidance would be much appreciated.
