UK Record pre-tax and post-tax deductions in payroll journal


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Hi,

Please could you help with recording pre-tax and post-tax deduction in payroll journal as it doesn't balance?
1. The journal was out by pre-tax amount - so I have recorded it as credit - i hope its correct?
2. Now it does balance, however I cant see how to record loan 853.63 which is post-tax deduction.
3. If I record 853.63 in credit, where shall I record the other debit part as it would not balance by loan amount?
Total gross for this employee is 1268.33, taxable gross 414.7, pre -tax payment 0, PAYE -125.6 (negative), SSP 414.70 and post-tax payment 856.63, net pay 1377.34.
I have recorded: Net payment is in net salary control as credit, total gross debit in P&L. I hope it makes sense?
thank you very much in advance!
 
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Fidget

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The credit will be against the employee's pay in the P&L and the debit will be to the payroll control account in the balance sheet.
 
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Hi,

Please could you help with recording pre-tax and post-tax deduction in payroll journal as it doesn't balance?
1. The journal was out by pre-tax amount - so I have recorded it as credit - i hope its correct?
2. Now it does balance, however I cant see how to record loan 853.63 which is post-tax deduction.
3. If I record 853.63 in credit, where shall I record the other debit part as it would not balance by loan amount?
Total gross for this employee is 1268.33, taxable gross 414.7, pre -tax payment 0, PAYE -125.6 (negative), SSP 414.70 and post-tax payment 856.63, net pay 1377.34.
I have recorded: Net payment is in net salary control as credit, total gross debit in P&L. I hope it makes sense?
thank you very much in advance!
What are the employees and employers national insurance contributions? Are you claiming the employers allowance?
 

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