Xero - beautiful accounting software

Xero Business Community

Xero Business Community

Hi everyone, Come on over to the new discussions in Xero Central. It’s a more intuitive way to connect and chat all things business with one another. Ask questions, dish out answers, and get involved.

You can still view topics in the Xero Business Community to see all the useful knowledge that’s been shared there; and you can restart conversations you feel have been of huge value to you on Xero Central.

If you have brilliant ideas for innovations, you can keep on adding feature requests in the Xero Business Community, and voting on existing requests. There’s more in store, as we come up with the best way to take on your thoughts and share developments
Community > Small Business >

How can I enter my wages into Xero ?

Started by Removed - Legal - 0010852235 Removed - Legal - 0010852235 -   in Small Business

Hi, I am in Sydney, Australia and I am working as an employee for a company and I also work as a consultant for other companies and I have ABN and send invoices. I understand how to enter the invoices to Xero, but, how can I enter the wages I receive as an employee to Xero ? I think that would be important so that my income tax is calculated appropriately at the end of the financial year, am I right ?
In Australia those two things would be treated separately on your tax return. Your Accountant fills in the top part of the return based on the PAYG Payment Summary supplied by your employer. Then the bottom part is completed according to the P&L from Xero. If your wages payments are appearing in your Xero feed then they need to be coded to Owner's Funds (or whatever you call that bucket) and very definitely NOT included as income to your business as this will distort your business earnings very badly. One of my employees is in this exact situation and this is what she does with her Accountant.
 

Jacki Knight  

Thank you !
...
By the way, it would be good idea if Xero could take into account one's wages so Xero could tell how much tax one is going to pay, it is always good to know that.
 

Removed - Legal - 0010852235 Removed - Legal - 0010852235  

Hi, I am in the UK and I want to enter our monthly wages onto Xero so that other users cannot see the entry. I do not want to set up a contact for each employee or have a contact named Salaries as this is still very obvious. So how can I record a monthly wage so that only the main user can see this and not other staff.
Many thanks
 

Jayne B