payroll in final accounts

monkeypuzzle47 Registered Posts: 134 Dedicated contributor 🦉

July 2008 edited June 18 in AAT student discussion

please could someone confirm what figures I would use for wages and salaries in sole traders accounts.

is it net paye + the employers n.i.c for total wages and salaries.

many thanks

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Comments

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  A-Vic Registered Posts: 6,868 Beyond epic contributor 🧙‍♂️

  July 2008

  If recording on sage it would be a jornal entry -
  
  DR 7005 Gross Pay + Employer NIC
  CR 2211 Both NICS
  CR 2210 PAYE
  CR NET pay
  
  and figers crossed it balances

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