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KimmyG1984


Newbie

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Manual salary Journal - Sage
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Hello, I am very new to this and appreciate any help so that I can enter my first salary journal for April wages and get it right  

I have come stuck as we have a CIS suffered refund amount (1570.04) and an NIC EA REFUND amount (1501.63) - and it is just confusing the life out of me.

 

GROSS - 17897.49

ERS NI - 1501.63

PAYE - 1772.40 (but the TAX DUE is only 202.36 due to the refund)

NI - 1286.94 (this is minus the NI refund of 1501.63)

NET WAGES - 14,076.98

EE PENSION - 751.17

ERS PENSION - 426.71

DEDUCTION - 10

 

Can somebody show me the correct way to post the above to get the journal to balance please?

 

blankstare



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KgREEN
Leger


Master Book-keeper

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Hi Kim

 

First of all this is the journal you need

 

 DebitCredit
Gross Wage£17,897.49 
Employers NI£1,501.63£1,501.63
PAYE £1,772.40
NI £1,286.94
Nett Wages £14,076.98
EE Pension £751.17
Deductions £10.00
   
   
 £19,399.12£19,399.12

 

You'll notice that I've included the whole of the PAYE, this is because CIS suffered is only entered in the relevant section in the software, there is no need to include it on the journal. Your P32 will include both and give you a nett balance.  ER pension is only recorded as a debit in PL and a creditor on the balance sheet (netted off when paid) 

 



__________________

John 

 

 

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