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Sammy76


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SSP journal
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How do I journal wages incl SSP

Figures I have are

Gross incl 260.10 SSP : 6050.14

ER NIC: 356.73

Net: 5372.93

PAYE/NI: 1033.94 (with a figure of 860.15 as deductions less below)

SSP reclaimed (I think - the spreadsheet doesn't say so I'm having to guess): 173.79

 

Thanks

 



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Sammy76


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Is this right?

DR Gross 5840.04
DR Er NIC 356.73
DR PAYE/NI (SSP) 260.10
CR PAYE/NI 860.15
CR Net 5372.93
CR SSP/SMP reclaimed 173.79

For some reason it just doesn't look right.


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Stardoe


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Hi Sammy,

No, it isn't correct as it doesn't balance.  Firstly, are you actually recovering the SSP or not?  You can only recover SSP if it comes to more than 13% of your total NI contributions for that month.  If you can answer that question for me then we'll take it from there.  

 



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Pauline
Sammy76


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It Balanced when I put it in the journal like that. I didn't run the payroll - it was off a spreadsheet from a client.

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Stardoe


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Hi Sammy,

If you do the journal with the entries you stated in your second post, there is a £50 discrepancy between the credit and the debit entries.  Credit side comes to £6,406.87 and the debit side to £6,456.87?



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Pauline
Stardoe


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Try this journal.  You needed to include the whole of the SSP figure in the gross wages and then debit the amount reclaimed to the PAYE/NI control account and also credit the SSP reclaimed account which reduces the overall payroll liability.

Dr  Gross pay6050.14 
Dr  Er's NI356.73 
Dr  PAYE/NI173.79 
Cr  PAYE/NI 1033.94
Cr  SSP reclaimed 173.79
Cr  Net wages 5372.93
   
 6580.666580.66


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Pauline
Stardoe


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Should have pointed out that the credit to the SSP reclaimed account should be in the payroll expenses range of the accounts (700x in Sage I think) and not in with the liabilities.

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Pauline
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