journal entry for pension - NEST

[ro007ger]

Hi,I need advice on below.

In order to record salary in arrears,
Dr Salary(gross)
Dr NI Employer Cont.
Cr Net Salary
Cr PAYE

Supposing pension contribution towards an employee being £50 each from both employer and employee at at the end of a month that will be taken by NEST on 8th of next month, please advise how to I record this in my book on the month it is incurring and on the next month when it goes to NEST's Account........................Thank you

 

[Scalloway]

Net salary and PAYE are creditors that will be debited when payment is made. NEST will be exactly the same. Your journal will be

Dr Salary(gross)
Dr NI Employer Cont.
Dr NEST Employer Cont
Cr Net Salary
Cr PAYE
Cr NEST

 

[UK Contractor Accountant]

what about the employees contribution to NEST?

 

[kevin.doran]

what about the employees contribution to NEST?

Within wages (gross) i'd have thought.

 

[UK Contractor Accountant]

https://my.sage.co.uk/public/help/askarticle.aspx?articleid=11252