I have a little problem with end of tax year postings for my payroll onto Sage, I will try to explain it as simply as I can.
We have been paying SMP to one of our employee in the last tax year for which we received the funding from HMRC which was not a full repayment.
Now I have had to run the year end as our accounts had the y.e. date of 31/03/13 and the balances have been wiped out from the SMP Reclaimed code 7011 and have been carried over as Ledger Year End.
I need to reclaim that amount by creating a general entry between SMP and National Insurance contributions due but I am unable to as the SMP Reclaimed code 7011 has been cleared out by running the year end.
Any solutions or workarounds for this would be highly appreciated.
Not quite sure what you are asking here. When the wages journal was done the credit to the SMP reclaimed code should have been balanced by the debit to the NI/PAYE contributions due and as this is a balance sheet account it should still be showing if not reclaimed.
Did you run the year end on the advice of the accountant? Had they agreed the balances on the accounts beforehand? If this balance was not correct they should have been told and the year end not run until the accounts had been agreed.
Apologies for getting back late, I have been away.
Just like you mentioned, I am after a journal entry that will credit the SMP and debit the NI/PAYE contributions.
The funding that we received from HMRC for SMP was not a correct full repayment due to an error on their side, therefore the earlier journal entry did not completely balance out SMP and NI/PAYE contributions.
The accountant advised us to run the year end as we are building up a backlogs of invoices and payments that we needed to be up-to-date with.
I did take backups but I can't go back and change them now as we have posted hundreds of invoices and payments since running the year end.
If the accountants have not yet completed the year end accounts I would let them know about this and leave them to deal with it as you have run the year end and are now working in the following year. It may involve doing a journal to the P & L account directly.
