Xero Help
Options
hollybops
Registered Posts: 3 New contributor 🐸
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
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
0
Comments
-
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
5
Categories
- All Categories
- 1.2K Books to buy and sell
- 2.3K General discussion
- 18.9K For AAT students
- 268 NEW! Qualifications 2022
- 147 General Qualifications 2022 discussion
- 9 AAT Level 2 Certificate in Accounting
- 44 AAT Level 3 Diploma in Accounting
- 65 AAT Level 4 Diploma in Professional Accounting
- 8.9K For accounting professionals
- 23 coronavirus (Covid-19)
- 274 VAT
- 92 Software
- 274 Tax
- 138 Bookkeeping
- 7.3K General accounting discussion
- 194 AAT member discussion
- 3.8K For everyone
- 38 AAT news and announcements
- 352 Feedback for AAT
- 2.8K Chat and off-topic discussion
- 590 Job postings
- 17 Who can benefit from AAT?
- 36 Where can AAT take me?
- 44 Getting started with AAT
- 26 Finding an AAT training provider
- 48 Distance learning and other ways to study AAT
- 25 Apprenticeships
- 65 AAT membership