The Book-keepers Forum (BKF)
The Book-keepers Forum (UK) -> Professional Book-keepers in Practice -> Give As You Earn
Post Info TOPIC: Give As You Earn
KarenC


Newbie

Status: Offline
Posts: 3
Date:
Give As You Earn
Permalink Closed

Hi

Can anyone tell me whether G.A.Y.E nominal code should be set up in same category as PAYE or Donations?

Many thanks

confuse

__________________
RobH


Expert

Status: Offline
Posts: 1963
Date:
Permalink Closed

Hi Karen,

my understanding is that GAYE is a donation from employees so I would say you would just journal salary details as per usual with no mention of it. If it is an owner managed company then the donation is still personal so I can't see that it would form any part of the company accounts. Maybe!

__________________
Rob
www.accounts-solutions.com
semsley


Guru

Status: Offline
Posts: 1329
Date:
Permalink Closed

Wouldn't it need to be paid over to someone so wouldn't it need a liability account to sit in till it was paid out?

__________________

Advice from beyond the grave!!!

E&OE
Neil


Senior Member

Status: Offline
Posts: 188
Date:
Permalink Closed

Rob, you're probably right (you usually are) but I have a sneaking feeling Karen needs to create this for an exam exercise. biggrin

If so, and based on past ICB papers, it should be a 22XX code.

Cheers
Neil

__________________
RobH


Expert

Status: Offline
Posts: 1963
Date:
Permalink Closed

Thanks guys you are both, of course, correct. I need to stop shooting from the hip and think things through, but you know this forum has been great for me in that respect, it has improved my bookkeeping knowledge considerably.

__________________
Rob
www.accounts-solutions.com
KarenC


Newbie

Status: Offline
Posts: 3
Date:
Permalink Closed

Thanks guys! 22XX is where I have put it anyway so thanks for your help - love this forum!

__________________
Lisa Jo


Senior Member

Status: Offline
Posts: 107
Date:
Permalink Closed

I always ue the 22XX codes, just under pensions as its a liablity until it is paid out..

__________________
KarenC


Newbie

Status: Offline
Posts: 3
Date:
Permalink Closed

Thanks Lisa - that makes sense biggrin


__________________
Page 1 of 1  sorted by
 
Quick Reply

Please log in to post quick replies.
The Book-keepers Forum (UK) -> Professional Book-keepers in Practice -> Give As You Earn
Tweet this page Post to Digg Post to Del.icio.us
Members Login
Username 
 
Password 
    Remember Me  
©2007-2024 The Book-keepers Forum (BKF). All Rights Reserved. The Book-keepers Forum (BKF) is a trading division of Bookcert Ltd. Registered in England Company Number 05782923. 2 Laurel House, 1 Station Rd, Worle, Weston-super-Mare, North Somerset, BS22 6AR, United Kingdom. The Book-keepers Forum and BKF are trademarks of Bookcert Ltd. This forum is a discussion forum only. There will usually be more than one opinion to any question and any posting should not be viewed as a definitive solution. No responsibility for loss occasioned to any person acting or refraining from action as a result of any posting on this site is accepted by the contributors or The Book-keepers Forum. In all cases, appropriate professional advice should be sought before making a decision. We reserve the right to remove any postings which are offensive, libellous, self-promoting or engaged in covert marketing. We will not notify users of removals. The views expressed in the forum posts are those of the individual and do not necessary reflect or agree with those of The Book-keepers Forum. Any offensive or unsuitable posts will be removed by the moderators. Any reader of this forum can request for a post to be looked into by sending an email to: bookcertltd@gmail.com.

Privacy & Cookie Policy  About