Sage 50 Help .. paye//nic etc

[MrDuck1984]

Hey there,

Really stupid question...

My problem... would be really greatful if someone could help me sort it out.

Say Joe Bloggs Gross Salary is 1600.56
paye tax is : 210.00
Nic: 123.42
Pension is: 108.33
Other is : 1.42

what come out of my bank is 1157.39 (his net salary)

Whats the journal entries ??

i dont know why but I am stuck lol

[RAL]

It was discussed here (http://www.ukbusinessforums.co.uk/forums/showthread.php?t=141162&highlight=journal) . There are two ways to do, the first one is the long way and another one is short way.

[ampg-it]

The journal entries are:-
DR CR Sage Nominal A/c Nominal Desc
Gross Salary Joe Blgs 1,600.56 7000 Gross Salaries
Gross Salary Joe Blgs 1,600.56 2220 Wages Control
PAYE 210.00 2220 Wages Control
PAYE 210.00 2210 PAYE/NIC Ctrl
Employees NIC 123.42 2220 Wages Control
Employees NIC 123.42 2210 PAYE/NIC Ctrl
Employers NIC 85.00 2210 PAYE/NIC Ctrl
Employers NIC 85.00 7006 Employers NI
Pension 108.33 2220 Wages Control
Pension 108.33 7007 Employers Pen
Other 1.42 2220 Wages Control
Other 1.42 7009 Adjustments

Then you need post your bank payment for the net salary to the Wages Control Account 2220 and when you pay your PAYE/NIC you post that to the PAYE/NIC Control.

You'll know you done it correctly if you have a 0 balance on your wages control account.