Payroll-Paying the Owner

[LL229]

(I am the new bookkeeper) How would I go about paying the owner? You should have to clock in and out like regular employee?

[Thriftylady]

(I am the new bookkeeper) How would I go about paying the owner? You should have to clock in and out like regular employee?

That depends there are lots of ways to set that up. Some owners take a salary, others pay themselves by the hour. Yet others just pay themselves a percentage of profits. Since you are the bookkeeper, you need to sit down with the owner (since the owner is your boss at the end of the day), and find out how the owner has always been paid.

[DaveA]

Meet with the owner & find out how it's been done in the past and how they want it done going forward. If you want to go in with a bit of information already, check the last few month's books and see how it was handled.