Payroll Journals with SMP

Hi
I have the following journals taken from Sage Payment Summary Report:
7001 (Gross salary0 7969.73 dr
7006 (Employers NI) 379.06 dr
7014 (SMP reclaimed) 699.58 cr
2210 (PAYE) 390.40 cr
2210 (Eees and Eyers NIC ) 700.90 cr
2220 (net wages) 7257.49 cr
But they dont agree by the SMP!!
Its driving me nuts, as I'm sure I include it in gross pay and then deduct it on the cr side.
Can some one help please!!
I have the following journals taken from Sage Payment Summary Report:
7001 (Gross salary0 7969.73 dr
7006 (Employers NI) 379.06 dr
7014 (SMP reclaimed) 699.58 cr
2210 (PAYE) 390.40 cr
2210 (Eees and Eyers NIC ) 700.90 cr
2220 (net wages) 7257.49 cr
But they dont agree by the SMP!!
Its driving me nuts, as I'm sure I include it in gross pay and then deduct it on the cr side.
Can some one help please!!
0
Comments
You would have needed to have set up at separate N/L code within Sage Payroll under : Company/Nominal Settings/PnL Analysis and enter it (the Nom Code number) in here before you processed the Payroll - otherwise it will throw out a discrepancy and put it into Suspense Account - you will have to do a manual journal to correct it out of suspense and into your unique SMP N/L Code
Dr SMP Reclaimed (or HM Rev control account if you do things that way)
Cr Wages Control
Should it be Dr Wages Cr Revenue control ?
confused.com:huh:
CR Profit and Loss SMP Reclaimed (a 'sale' on the P&L account).
"money coming in from revenue (or a deduction from what is owed) is Dr to the revenue control account and Cr to Wages."
Thats right, but that's not how I read your post. Your Cr to Wages Control is on the BS, as a control account isn't on the P&L.
Now I'm confused.com!!
Dr Gross Wages
Cr SMP
Cr PAYE
Cr NI
Cr Nett Wages
:huh:Sorry I was running a bit behind yesterday and only dashed off a quick response :
below is a payroll journal example : hope it helps to clarify your thoughts :
Wages Journal Example
Nom Code Debit Credit
2211 SPP Recovered 236.87 Cr
2210 PAYE 232.87 Cr
2211 Total SPP Recovered 236.87 Dr
2211 NI ee + er 477.03 Cr
2220 NET Wages 1910.75 Cr
2230 Pension ee + er 174.38 Cr
7000 Gross Wages 2184.70 Dr
7006 NI er only 255.99 Dr
7007 Pension er only 96.88 Dr
7014 SPP 257.46 Dr
TOTALS 3031.90 3031.90
Apologies for the poor layout - it looks far better on a spreadsheet lol :glare: