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Post Info TOPIC: Statutory Maternity Pay and SMP reclaim
kinnie


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Statutory Maternity Pay and SMP reclaim
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How do you account for this?

I can do it in several ways, but have got stuck looking for the best / 'right' way to do it, and was wondering if any of you have exprience in recording the SMP and SMP recovery...

Your help is greatly appreciated!

Valentina



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CBS


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Hi Valentina,

Your payroll journal will be:

Dr P&L Gross Wages
Dr P&L E'ers NI
Cr P&L SMP (or offset against gross wages if you don't want to show it separately)
Cr B/Sh PAYE&NI Liability
Cr B/Sh Net Pay Liability

Payments from bank get paid against the liabilities created in the balance sheet.

I hope this helps.
Lisa.

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