The Book-keepers Forum (BKF)
The Book-keepers Forum (UK) -> General Book-keeping & Accounting -> Retained Holiday Pay
Post Info TOPIC: Retained Holiday Pay
morgwick


Senior Member

Status: Offline
Posts: 246
Date:
Retained Holiday Pay
Permalink Closed

Hi, could someone confirm that I am treating retained holiday pay correctly (for a payroll umbrella)

I'm assuming that the holiday pay is deducted from the net pay, so am I right in that  I should gross up wages by the amount retained and credit a creditor control account for retained holiday pay.

When someone then takes holiday pay, I would dr the control account by the amount and cr wages.

Thanks, a fresh pair of eyes would be a great help.



__________________

Gill
Stuartbham


Senior Member

Status: Offline
Posts: 195
Date:
Permalink Closed

Hi Morgwick. I don't do many payrolls but your thinking sounds ok to me. I only use the one control account for wages on Sage, although I know some others like to keep net wages, PAYE and NICs in seperate controls. 



__________________

Stuart

Birmingham City FC - Blues is my religion St Andrews is my church
Page 1 of 1  sorted by
 
Quick Reply

Please log in to post quick replies.
The Book-keepers Forum (UK) -> General Book-keeping & Accounting -> Retained Holiday Pay
Tweet this page Post to Digg Post to Del.icio.us
Members Login
Username 
 
Password 
    Remember Me  
©2007-2024 The Book-keepers Forum (BKF). All Rights Reserved. The Book-keepers Forum (BKF) is a trading division of Bookcert Ltd. Registered in England Company Number 05782923. 2 Laurel House, 1 Station Rd, Worle, Weston-super-Mare, North Somerset, BS22 6AR, United Kingdom. The Book-keepers Forum and BKF are trademarks of Bookcert Ltd. This forum is a discussion forum only. There will usually be more than one opinion to any question and any posting should not be viewed as a definitive solution. No responsibility for loss occasioned to any person acting or refraining from action as a result of any posting on this site is accepted by the contributors or The Book-keepers Forum. In all cases, appropriate professional advice should be sought before making a decision. We reserve the right to remove any postings which are offensive, libellous, self-promoting or engaged in covert marketing. We will not notify users of removals. The views expressed in the forum posts are those of the individual and do not necessary reflect or agree with those of The Book-keepers Forum. Any offensive or unsuitable posts will be removed by the moderators. Any reader of this forum can request for a post to be looked into by sending an email to: bookcertltd@gmail.com.

Privacy & Cookie Policy  About