We will be implementing a Cycle to Work Scheme shortly for all our employees.
My question is, how do I deal with this in terms of double entry?
We will be receiving invoices from the retailer, are these posted to a Fixed Asset code and therefore depreciated, or coded to an expenditure code within the P&L?
Then, where do I code the salary sacrifice to? Will this credit an expenditure code within the P&L, or some kind of liability code within the Balance Sheet?