Quick question

joanne2510
joanne2510 Registered Posts: 13 New contributor 🐸
edited June 18 in AAT student discussion
Does anyone know where if at all you post smp and sap rebates on the wages control?

Thanks

Comments

  • payrollpro
    payrollpro Registered Posts: 425 Dedicated contributor 🦉
    Joanne,

    I would hope your accounts will automatically post back the recovery and reduce the gross cost accordingly. The only problem is when you do this. Some will assume the recovery and post the gross cost less the amount coming back whilst others only post the recovery when the payment is made to HMRC. I don't think there is any fixed rule, just personal preference.

    There has to be separate entries though and I would make sure there is a value for the SMP, then a separate one for the standard recovery and then another separate one for the compensation value if it applies. They all go on the costs side as a reduction to the NIC liability and not as miscellaneous income.

    Payrollpro

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