Anyone know a way to make net payments from payroll to a holding account rather than triggering an entry into the bank account.
The reason is to a) keep back some cash for company business b) pay amounts as/when needed
Payroll holding account
Sep 05, 2006
4 Replies
Many companies use a separate impress payroll checking account.
Acutally I answered my own question: create bank account, make payments for net PAYE to that Actual transfers make between current and that a/c and of course document the procedur
Your solution will not achieve (a) or (b) any more than having one bank account.
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