I just doing a bookkeeping for the company, theirs employees got a DEA Debts so we need to deduct some money from their wages. Now, the question is hoe to post them to sage accounts?
I can see that the lady who was working before she add a new nominal (7012) CSA&DEA Deductions but I cant work out how she put the Journals for these transactions and also she did not do any transaction from the bank but the company physically make a bacs payment to hmrc so I need to know how to allocate transaction as much correct as possible.
Treat it in a similar way to how you would treat the PAYE/NI liability. When you enter
your salary journal, post a credit to an account in the liabilities range (22XX), which you
would call CSA/DEA Liability - it shouldn't be posted to a P & L Account. Then, when the payment
is made to HMRC, post that to the same liability account thereby making it nil.
So that should be balance sheet by the end of the year ?
I have one more issue but not sure if you will be able to help,
Because of some reason I cannot check it in Sage, when I tried to run P&L or Balance sheet from previous period I see the massage: "No data was returning for this period".
At the end of the year, the balance on the Liability account might be
nil, or it will more likely show the last month's liability if the payment hasn't
been made by that time.
Can't quite think what your last sentence is about, perhaps someone else can help !
