So I dont get any payroll information from the director and only see the payments going out of the account - ie nett wages, Tax & NI payments & pension payments - should these all be posted to the P&L, again no breakdown of the NI or pension as to how much is employee or employer payments, historically the NI & Pension has just been posted to the balance sheet but there is no 'other entry' to clear it down.
Really appreciate any help.
I agree with Jane. Post the net wages and the tax, NI and pension payments to liability accounts on the Balance Sheet. Normally the wages journal would account for the expense side of things and posting the subsequent payments to the liability accounts would clear this down. If you are not getting any details though, this is all you can do. Personally I would hate that though and would insist on having the details, rather than do half a job!
Edited at 13 Sep 2020 11:55 AM GMT