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Post Info TOPIC: Help with Salaries, Quickbooks desktop


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Help with Salaries, Quickbooks desktop


Hello everyone,confuse

My first post, and in desperate need for advice & help, probably on a regular basis. I was doing a search for Mentors and was suggested this forum. Hopefully in the future I can contribute when I am a bit more experienced.

I have ICB Level 2 bookkeeping (which I studied a few years ago) & more recently passed my AAT Level 2 and now studying Level 3. I have somehow fell into freelancing with a charity, which is great but has come a little sooner than I anticipated, and I feel a little out of my depth.

The charity has a lovely CEO, who I directly work with, and a treasurer, who comes in now and again, but his experience is limited. Their previous bookkeeper doesnt really want to help with any queries.

I have been entering and paying invoices which has been fine. My problem is salaries. My CEO gave me some slips with the net amounts of salaries that have been paid, with the employees name (they are June, July and August salaries last year) and I am to put them on Quickbooks Desktop to show the expense. Payroll is done on Sage. I briefly spoke to the previous bookkeeper and he said he raised a cheque in Banking then posted the net wages in wages control. I have done this Under Net wages control, Liabilities, which will go to the balance sheet, but I was wondering what do I need to process for the P&L as an expense?

My CEO said to just raise the cheques with the net amount and thats it, but that doesnt seem right to me. I also have a HMRC payment, what do I do with this?

Is somebody able to explain in very simple terms how I am to do this? And has anyone else started off like this in their career, feeling they dont know anything, I have been doing well in my exams, but putting it into practice is a different thing altogether.

Really would appreciate any advice, thank you in advance

M



-- Edited by Meganp on Thursday 16th of January 2020 12:02:52 PM

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Master Book-keeper

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Hi Megan, welcome to the forum

Hss the payroll been done in Sage so that you have the figures or as that still got to be done? Assuming it has been done you need to do a journal in QB with the details.

DR PL Wages

DR PL Employers NI

CR BS Tax/ Employees NI (2210 of the top of my head but some people split between 2211 for the NI separately)

CR BS nett wages control

CR PL Employers NI if employers allowance or BS Tax/NI if not.

When making payment CR Bank DR nett Wages Control which you have already done by the sound of it.

EDIT: Changed wording slighty re Sage Payroll so it wasn't ambiguous



-- Edited by Leger on Thursday 16th of January 2020 12:20:17 PM

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John

Any advice given is for general guidance and professional advice should be sought applicable to your circumstances.



Master Book-keeper

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Meganp wrote:

Hello everyone,confuse

I have somehow fell into freelancing with a charity,

-- Edited by Meganp on Thursday 16th of January 2020 12:02:52 PM

Can you please confirm - do you have MLR cover and PII?
Your CEO clearly has no clue.
Who does the wages in sage? They should be able to provide you with a payroll journal. All you need to do then is ignore the nominal codes and allocate to the appropriate account as John suggests.
Out of interest who suggested this forum?
We do not mentor as such, just ask that you read regularly (you learn a LOT that way) and join in regularly (there are plenty of non technical posts you can add to).


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Joanne

Fallows Hall Ltd

Winner - Bookkeeper of the Year 2015, 2016 and 2017

Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.



Master Book-keeper

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Oh and is it Megan or Jane?

Please add your preferred name to show under the signature bar (profile, edit sigs)

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Joanne

Fallows Hall Ltd

Winner - Bookkeeper of the Year 2015, 2016 and 2017

Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.



Master Book-keeper

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Leger wrote:

DR PL Wages

DR PL Employers NI

DR PL Pension - Employers

CR BS Tax/ EmployeesNI (2210 of the top of my head but some people split between 2211 for the NI separately)#

CR BS EE's and ER's pension

CR BS nett wages control

CR PL Employers NI if employers allowance or BS Tax/NI if not.

When making payment CR Bank DR nett Wages Control which you have already done by the sound of it.

When paying HMRC cr Bank DR BS Tax/NI (split if you split it above#)

When paying pension - cr bank DR BS Pension


Hope you dont mind John, just added a couple of bits in case they are needed!



__________________

Joanne

Fallows Hall Ltd

Winner - Bookkeeper of the Year 2015, 2016 and 2017

Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.



Member

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Hi John, I thought that may be the case, Yes the figures have been done already in sage. Theses are payments from last year. Thank you so much for taking the time to help, it is a lot more clearer.

M



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Member

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Hi Joanne, thank you for your help too. I do not have cover no, 'my CEO clearly doesnt have a clue' That's a bit harsh biggrin what do you mean? I cant remember who recommended this forum I was just looking around the internet and someone recommended this forum. I did a search and read some posts before I posted myself, I thought this was a forum to ask questions? I will of course contribute when I can. I am posting as Megan, and signing of as 'M' so, Megan Please.

Thank you

M



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Master Book-keeper

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Meganp wrote:

Hi Joanne, thank you for your help too. I do not have cover no, '

M


Hi Megan

Quick one for now.....

You need to get MLR as a matter of great urgency. You are acting illegally and can be fined/imprisoned. Plus sanctions from the AAT.

PII is a must if you do not wish to lose your house, car, children, other assets if you are sued.



__________________

Joanne

Fallows Hall Ltd

Winner - Bookkeeper of the Year 2015, 2016 and 2017

Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.



Master Book-keeper

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Thanks for the bits in red Joanne, never thought about the pensions. I only do pensions for 1 client, and to be fair, your post has highlighted a step I've missed out, so will need to check that.

Also I didn't fully click that Megan was self employed, so good point there.



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John

Any advice given is for general guidance and professional advice should be sought applicable to your circumstances.



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Ok, first of all no one is taking my children away from me!no Just rang AAT & they have advised me and assured me that I will not be imprisonedbiggrin Thank you for letting me know Joanna, but, a bit OTT. Its all sorted.

M Thanks again to you all for your advice.



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Master Book-keeper

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Meganp wrote:

Ok, first of all no one is taking my children away from me!no Just rang AAT & they have advised me and assured me that I will not be imprisonedbiggrin Thank you for letting me know Joanna, but, a bit OTT. Its all sorted.

M Thanks again to you all for your advice.


Its Joanne, not Joanna.

Most folk would be glad to lose their children, but not their dogs ...for some reason.wink

The fines and imprisonment position is not OTT.....if you are not registered and need to be registered that is a real and (has been) carried out punishment.

But if AAT have confirmed that it does not apply for your circs specifically then great, job done and its saved you the registration cash, which is not cheap.

I would be remiss of me not to have mentioned it...especially as you described yourself as 'freelance'. Especially as you were looking for a mentorbiggrinbiggrin

On the ''I thought this was a forum to ask questions? ''

Yes you are quite right. BUT we do encourage two way, because we dont get paid for helping folk, we are all busy practioners, we (apparently) do it for the love of it or maybe just because we are barking, but sometimes its a wee bit sole destroying just answering folk all the time and getting zero in return (often the case of late) hence why it would be good to see posters when they are not on here with a question as well.

As I said higher up, Im sure you will learn a lot from reading so I look forward to engaging with you further. Belated welcome.



__________________

Joanne

Fallows Hall Ltd

Winner - Bookkeeper of the Year 2015, 2016 and 2017

Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.

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