Quick question please…
I used to run a company years ago with a partner, at the time, our wages were registered in Manager as “expenses” which were deducted from the profit of the company(showing as expense in the profit and loss statement).
Now, I still have a company but alone, therefore I had to register as “self employed”. Based on what the tax dept told me, the net profit of the company now becomes my wage. It sounds great but I cannot work out how to register a wage monthly that does not deduct itself from the net Profit in the profit and loss statement in Manager.
I have created an account called “wage”, but each time I withdraw money out and register it as “wage”, it becomes an expense and minus itself to the yearly profit which is not ideal because the net profit always becomes 0.
What is the best way for me to pull a wage but have the profit and loss not showing it?
I hope I explained myself correctly.