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Post Info TOPIC: Wages Journal Doesn't Balance
Beanie


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Wages Journal Doesn't Balance
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Hi guys, looking for help again! cry

I'm updating the accounts with the wage run (my first time doing this) and I've entered everything (I think) into the wages journal but my figures don't balance.  The figure that I have put in for Employer's NIC is the exact amount that I am out by.  I'm inputting figures according to the Sage PDF guide.  I know that if I take this figure out it will all balance, but I'm really not sure that that's the right thing to do. 

Any advice would be greatly appreciated! confuse

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kjmcculloch


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You need to:

DR Gross Wages
DR Employers NI

CR PAYE
CR National Insurance (employers + Employee)
CR Net Wages

This should sort it out.

Kris

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Kris McCulloch 
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The views expressed in this post are my own personal (HRA protected) views, and are not representative of any organisation I have any involvement with.
Beanie


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Right ok, so when I credit the NI I don't just take the employees total, I add the employers total to the employees figure? 

Thank you so much!!!  You're a star!!  biggrin

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kjmcculloch


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This was one of the few thinks the HLC course explained well.

Kris

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Kris McCulloch 
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Stardoe


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You debit the amount of Employer's NI as it is an expense of the business and you also credit it as it is a liability that you pay over to HMRC along with Employee's NI and PAYE smile.gif

Pauline

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Pauline
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