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• # 76724
• Mon 21 Nov 2011 11:09 AM

Hi Everyone

I am just doing my first year end for my own bookkeeping, which should be really straight forward and easy but when I check my trial balance, profit and loss and balance sheet the Bank total is incorrect. The amount it is over by, is the same amount I have paid to NI. I have entered the transaction (on Sage) as a bank payment and put the nominal code for national insurance.  The total on the bank screen is correct so I can't work out where I've gone wrong.  I'm sure I'm missing something obvious but I can't workout what it is!!

I would be grateful for any help

thanks

Steph 

• Steph

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• # 76725
• Mon 21 Nov 2011 11:12 AM

When you entered your wages journal, how did you enter it?

Kris 

• Kris McCulloch
  www.ayrshireaccountancy.co.uk
  
  Winner - BKN Most Innovative Accountancy Firm 2012
  
  Latest Blog Post: Bookkeepers Award 2015

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• # 76726
• Mon 21 Nov 2011 12:11 PM

Sounds silly but you did have the correct bank account selected when you entered the bank payment didn't you? It's not unheard of to have things coded to say petty cash bank instead of current account...(1230 v 1200)

• Bruton Young Bookkeeping
  
  

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• # 76728
• Mon 21 Nov 2011 12:57 PM

Thanks Kris and Clare for your replies,

I think my problem stems from the fact that I haven't yet taken a wage from my business so haven't entered a journal for the NI payments. I've double checked everything else, and deleted the entries so just need to figure out the journal and make the payments again!

• Steph

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• # 77302
• Tue 29 Nov 2011 08:26 PM

Hi Steph,

If you are in business as a sole trader and are paying self-employed NI contributions then these should be coded to drawings, not the NI nominal.  Also check that you pick the correct bank account as Clare suggested as I've done that before, picked the petty cash account by mistake...lol

Pauline

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