Help

System
System Posts: 100,534 🤖 Admin 🤖
edited June 18 in AAT student discussion
I am doing one of the simulation for unit 2. Am beginning to think I have lost the plot. I was in class when we did payroll, but I must have missed the tutor telling us where to stick things in the ledger. These are the ledger accounts I have:
- Wages & Salaries
- Inland Revenue
- Pension fund
- Wages & Salaries Control

The wages & salaries had a balance in the DR side, the inland revenud and pension fund have a balance in the CR side.

Gross pay total £1,440.00
Income Tax deductions £205.00
National Insurance deductions £114.00
Pension deductions £41.00
Net gross pay £1,080.00

What goes where in the ledger? I have put the £1080.00 on the CR side of the cash book as requested. So I would have expected to put the deductions and the net wages on the DR side of the ledger. Do I need to note the gross pay? And do I need to put the employers contributions for national insurance nad pension in the ledgers and if so where? Have looked through the text book but can't find anything. Got the skills test on Tuesday so panicking a little bit as this is the only think int he simulation that I have got stuck on.

Sorry for long post and thank you in advance for any assistance. Have tried searchigng the forums for help but it didn't come back with anything.

Comments

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Help

    mmm, i had this problem too, i had my exam on monday.

    you need to cr the wages and salaries control acc and debit the wages and salaries acc with the gross!
    then you need to cr the bank controll account with the net and dr the wages and salaries control acc!
    after all this, you need to cr other accounts like inland rev, pensions etc and dr the wages and salaries control acc with the same amounts!
    i hope this makes sense, it will eventually go in. have a look in the osborne tutorial, i found it very helpful an hour before i went to my exam lol.

    good luck!
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Help

    thanx. tried to get hold of tutor but shes teaching unitl 7 tonight.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Help

    Kerry did you do unit 2 skills test as I have a few questions about the questions at the back of the test

    can you email me on cmartin@metallex.co.uk

    thanks
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Help

    did the actual skills test for unit 2 today and stuffed up on the wages. forgot to put a few entries in the wages account, but remembered to put them all in the control account.

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