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Post Info TOPIC: Wage Journal on Sage 50: NIC Funding received
Kairen


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Wage Journal on Sage 50: NIC Funding received
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Just when I think I'm in control of my monthly Wage Journal.....

We outsource our payroll - the P32's for month 1 and 2 shows the NIC-ERS under 'Funding Received' therefore reducing the Total Due to HMRC. The Director's have obviously agreed something with the Accountants and not told me. They are unavailable and I need to close off the accounts.

 

So, do I ignore NIC-ERS completely in the debits or, should I credit another code instead of 2210 please?

Thank you in advance smile



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matt123


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Isn't this the £2000 employers NIC contributions allowance?

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Matthew
jenand


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I had something similar last week. The outsourced payroll took advantage of some sort of employment allowance of £2,000.00, leaving 2210 with a balance, after journals and payment.

I did a journal to move it to Gross NIC, one of the P & L codes that I can not quite remember now...

HTH


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Jenna
Kairen


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Firstly, thank you both for replying :)

Yes matt123, it is the £2000 employers NIC contributions allowance.

jenand - thank you for your advice - I have put it on my journal as follows:

Dr 2210 PAYE & NI Control Account
Cr 7006 Employer's NI

Now my Control account agrees :)

Thank you very much!

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