I am currently using sage 50 essentials for accounts and sage business cloud for payroll as there is only 2 employess. My question relates to treatment of employers contribution.
As payroll business cloud cannot link to sage essentials 50 I am creating a journal entry in sage 50.
I am taking gross pay and Employer Ni (7000 and 7006) on Dr and all the balance sheet entries on CR (Net wages, paye, employee Ni and employee pension). I then adjust Employer ni to account for employer ni allowance.
This balances when I do above.
My question is regarding employers pension is do I need to create another p and l nominal code for employer cost of employee pension ie (3%) to include in journal. Likewise a balance sheet entry.
This is the first month doing payroll and I would like to get it correct for going forward. I did not see a nominal code for employers cost of auto enrolment in sage?
Yes, an employer pension account in the P & L (I use 7007). Your credit to pension liabilities in the balance sheet will be the total of the employees and employers pension contributions.
So hows about an intro before we start. We always ask newbies!
Usual stuff - what prof body do you belong to, do you work for yourself or in a practice/ firm, who is your MLR with, are you a bookkeeper or accountant, what qualifications, how long in role, where up to in your studies-what exams passed/with what body/who your MLR is with/in midst of doing, where based, what you did before this role? That sort of thing. Helps get to know you but also how best to pitch answers.
