I wonder if you can advise me please.
We are a consultancy business and therefore consultants get paid via a payment received from a particular project/client.
From that Invoice payment it is broken down as follows
employee receives 40% broken up into basic / travel allowance / housing allowance / holiday pay
30% goes to cover overheads such as visa / healthcare / gratuity / insurance - currently I do this via capital account and break each one down individually which takes time.
30% goes to shareholder accrual which is saved and shared amongst the shareholders at end of year - again this is done via capital accounts.
My question is - is this the best way for it to be done ? very new to this