Xero Help

Ladies and gents,

I wonder if you can help at all, we are switching between Sage One Payroll to Xero Payroll to omit the journal enteries having to be done in Xero Accounts for the payroll.

I am so confused with regards to the accounts things should be posted to. Currently, we do the following Journal entries:-
7000 Directors Salary Dr
7030 Staff Salary DR
7010 Directors NI DR
7040 Staff NI DR
7020 Directors Pension DR
7050 Staff Pension DR
2220 Net Wages Control CR
2210 PAYE & NIC Control CR
2230 Pension Control CR
8220 Health Care CR
1120 Staff Advances CR

Firstly, in the pensions tab within Xero, I have no clue which nominals to use. As our staff workforce is bigger, I am thinking of just journaling in the Directors Pensions?
But, I am so confused as what account to post these too?
Employees' contribution liability account ?
Employer's contribution liability account?
Employer's contribution expense account?
Using the accounts we already have in place.

The General Wages I have applied the following
Bank Account - 1200
PAYE Liability Account - 2210
Wages Expense Account -7000
Wages payable - 2220
NIC Liability Account - 2225
Employers NIC Account 7080

Do these look correct with how its previously been set up in the first list?

AAAAANNNNNY Help would greatly be appreciated.

H :'( :'(

Answers

  • Ju8u5Ju8u5 MAAT, AAT Licensed Accountant Posts: 7
    Hi

    Re Pension accounts

    Employees' contribution liability account and Employer's Contribution liability account use use a Pensions Payable account (B/S code)
    Employer's contribution expense account use Pension Costs (P&L code)

    When pension contributions are made reconcile them to the Pensions payable code

    Hope that makes sense
    J
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