Employee Private Funds

On occasions employees may pay for company purchases with their own money (i.e. not for their own use). They may also take out goods or services from the company (i.e. for their private use) without paying for it immediately.

To track these types of situations, you have accounts for Employee Private Funds. These accounts track all the transactions that take place between the company and the employee.

Adding an Employee Private Funds Account

Go to the Account List

Field/Button	Do
	Click New. A new window opens.
Account type	Select Employee Private Funds. Click Next.
Name	Enter the account name, for instance "Private Funds John".
	Click Save to save the account

How These Accounts are Used

Cash Purchases

When you enter a cash purchase paid for by an employee, the employee's private funds account can be selected as the payment method.

1. Select the employee's private funds account as payment method, if you reimburse the employee at a later time.
2. Select the account you pay the employee from, if you reimburse the employee immediately.

You can reimburse an employee when salary is paid, or as a reimbursement.

If the employee acts as a subcontractor or supplier, the employee should be registered as a supplier instead and a supplier invoice should be entered.

Sales

When you enter a sale to an employee, you can select the employee's private funds account as the payment method for a cash sale.

1. Select the employee's private funds account as the payment method, if the employee pays at a later time or it is deducted from the salary.
2. Select the account the employee paid into, if the employee pays immediately.

An employee can make his payment through salary deductions or directly by paying money into a company account.

If the employee acts as a customer, the employee should be registered as a customer and invoiced as a customer.