Forum

topBanner
First Previous - Page 1 of 1 - Next Last

HELP!!!!! Payroll Journals

dansmellymoo
  • 1 post
  • # 93021

Good morning everyone, new here.


I have done payroll for the first time with NO training and now it has come to the journals (I am going to link up the accounts packages to do them automatically in future). I need to post the journals for salary, tax, ni and ssp recovered. Here are the totals:


Gross Wages               7486.80

Tax                            704.60
NI                             885.04
SSp Recovered May    -290.33
                       June   -125.55
                       July    -145.05
                       =       1028.71 (paye & ni Total)

Net Wages                 6372.16

Included in the gross wages are £400 directors salary. 


Please could you help with the postings as I am not feeling confident, also do I credit the bank (1200) and debit gross wages (7000) when the payment has come out of the bank for the salaries?


Many many many thanks in advance :)     

  
Peter100
  • 182 posts
  • # 93033

Well please note that I have no payroll diploma but I think I something amiss. 

On payday, you wouldn't be debiting gross wages, you would be debiting net wages. Assuming you're talking about an account called gross wages a/c, that will already have a debit figure but the net wages a/c should have a credit figure and that same figure is debitted (and credited to bank - as you correctly say) and then the net wage a/c is empty.

I also want to check something: does the 885.04 include both the employees' NI (NIee) and the employers' NI (NIer)?
If so then in order to do the accounting, you need to separate them because they are dealt with differently.

Once I have your answer to this I can help you with the accounting


Undecided


Peter
  • 794 posts
  • # 93036

Hi,

To be able to assist you with this I will require more info.
Please email me direct: marilyn@mmauran.plus.com

Regards,
Marilyn

Edited at 22 Aug 2013 05:29 PM GMT

  • A clever person solves a problem.

    A wise person avoids it.

    Albert Enstein


  • Quote
First Previous - Page 1 of 1 - Next Last
bottomBanner
loading