Director: Salary & wages
QuickBooks UK : Pro 2012Small company. One working director. Has been set up as a director on payroll with a salary. As he is now actually working on site he wants to have his time on site calculated as wages and allocated to labour costs for the appropriate jobs (we operate job costings for job profit and loss figures), whilst also keeping the amount paid for his time at the office allocated to his salary account. Whilst I think this is possible, is it advisable? Our director-salary account is under expenses whilst labour is under COGS. We would obviously have to bear this in mind for the end of year company accounts, but would we be required to enter adjustments to QBs to reflect the true Director-Salary figure (ie salary & wages paid under the labour account) in the published accounts, and if so, would it be technically possible?
