15th April 2020

COVID-19 furlough pay

How to record COVID-19 furlough pay in Liberty Accounts

Under the Governments' Coronavirus Job Retention Scheme, all UK employers will be able to access support to continue paying part of their employees’ wages/salary for those employees that would otherwise have been laid off during this crisis.

This video illustrates the process for recording wages/salary paid under the furloughed workers scheme on Liberty Accounts cloud accounting and payroll software. The process involves creating a new payroll element that will update an asset account for you i.e. the monies that you will be able to claim back from the Government. The new payroll element is then associated with any furloughed workers and the payroll run in the usual way.

Journal end flourish


TWO MORE MONTHS
COVID-19 NOT-FOR-PROFIT SUPPORT PACKAGE EXTENDED

FIND OUT MORE