The views expressed in this post are my own personal (HRA protected) views, and are not representative of any organisation I have any involvement with.
Sorry, children demanding dinner meant shortened question! We are using Liberty Accounts and salaries are currently manually journalled out of the bank account into the wages nominal account.
The views expressed in this post are my own personal (HRA protected) views, and are not representative of any organisation I have any involvement with.
Sorry, just realised Liberty Accounts is one of these new fangled cloud things. Have you asked their support team. They should be able to look at your account and tell you what you're doing wrong.
Kris
-- Edited by kjmcculloch on Thursday 8th of July 2010 06:24:31 PM
The views expressed in this post are my own personal (HRA protected) views, and are not representative of any organisation I have any involvement with.
It's all current liability accounts. I've been looking at this too long and I'm going round in circles. Shouldn't wages be an expense account? In Liberty the standard chart of accounts sets it up as current liability.
The views expressed in this post are my own personal (HRA protected) views, and are not representative of any organisation I have any involvement with.
I'll phone support tomorrow but I'm guessing I'll have to add a new wages expenses account (for some reason this isn't a standard option in Liberty) then debit expenses and credit liabilities then when salaries are paid, credit bank and debit liabilities to clear it?
DR gross wage (expense) DR employers nic (expense) DR employers pension contribution (expense) CR net wage (liability) CR hmrc (liability) CR pension (liability)
CR bank DR liability when paying net wage, pension company or hmrc.
You can of course seperate the liability hmrc a/c into two seperate accounts labelled nic and paye if you like.
