Can someone advise on where a student loan deduction should be coded, should it go to the PAYE code in Sage? Therefore, when the payment to HMRC is posted it will bring the NI and PAYE codes to a nil balance for that month.
I have a tax rebate on my salary summary, can anyone help how to post this in the journal. Won't let me post as a minus and I've tried posting in the debit column rather than credit but that doesn't balance either.
We use an external supplier to do the wages and I've just used the figures from the employer's summary, which has been fine for all the other months. The only way I could see to do it was to not post PAYE on the journal as it is a credit and as you say decrease the net wages.
The tax refund would have just reduced the PAYE figure.....so you just need to post it as part of the total PAYE/NI amount. In other words, total all the tax and ni and deduct the refund.
Thanks for your response. It is my total tax that is a credit figure. I've fiddled round it by reducing the net so it balances - sure the accountant will tell me off if that isn't right! It's only £13 though so no major issue hopefully!
But your total tax and ni payable should be a credit figure? Your salary journal should look like this:-
DR Gross wages DR Employer's NI CR PAYE & NI Ctrl (includes total tax less the rebate, and total NI (employer's and employees') CR Net wages
Is your rebate figure shown separately on your employer's summary then? If you have fiddled the net so that it balances, surely your bank rec then won't balance as the net figure won't be what you've actually paid?
