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Posted by TKnTexas on September 6, 2006, 12:47 am
Please log in for more thread options Pay your payroll from a separate bank account. If you bank can do a
ZeroBased Account this is what you want. As payroll checks come
through, clearing through the payroll account, the bank transfers only
enough money from your operating account to cover them, keeping the
payroll account at zero balance. If you earn interest on the operating
account you will continue to draw interest on money until it is
absolutely needed to cover a payroll check.
TK
David Wood wrote:
> 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
>
>
> >
> >> 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
> >
> >
> > Many companies use a separate impress payroll checking account.
> >
> >
> >>
> >>
> >
> >
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