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How do I record the payment of PAYE & NIC to HMRC? Do I just process a journal to Dr the PAYE creditor and Cr the Bank account?

 
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Best answer 02-07-2019

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QuickBooks Team

Hi mike. Thank you for contacting Community. Depend...

Hi mike.


Thank you for contacting Community.


Depending on which version of Payroll you are running, assuming you are running your Payroll through QuickBooks at all, you would simply make an expense payment to the corresponding liability account.


When you originally run your Payroll or create a Journal, this should post to the corresponding liability accounts increasing the liability stating that these amounts still need to be paid. For example, you may run your payroll to record your Employee Wages to the Payroll Clearing liability account. This would increase the liability to the Payroll Clearing account stating the payments still need to be paid. When you are then recording the payments on the payroll, the payments you make to your employees, you would record them as expenses out of your company to the Payroll Clearing liability account. This would then reduce the liability and would reset the balance of the account down to 0 (Indicating there is no liability outstanding) ready for the next period.


Let me know if you have any queries. Or, if you'd like to go through this over the phone, you can call our dedicated team who will be happy to assist you. Our contact details can be found here along with our opening hours.


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3 REPLIES 3
QuickBooks Team

Hi mike. Thank you for contacting Community. Depend...

Hi mike.


Thank you for contacting Community.


Depending on which version of Payroll you are running, assuming you are running your Payroll through QuickBooks at all, you would simply make an expense payment to the corresponding liability account.


When you originally run your Payroll or create a Journal, this should post to the corresponding liability accounts increasing the liability stating that these amounts still need to be paid. For example, you may run your payroll to record your Employee Wages to the Payroll Clearing liability account. This would increase the liability to the Payroll Clearing account stating the payments still need to be paid. When you are then recording the payments on the payroll, the payments you make to your employees, you would record them as expenses out of your company to the Payroll Clearing liability account. This would then reduce the liability and would reset the balance of the account down to 0 (Indicating there is no liability outstanding) ready for the next period.


Let me know if you have any queries. Or, if you'd like to go through this over the phone, you can call our dedicated team who will be happy to assist you. Our contact details can be found here along with our opening hours.


View solution in original post

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Thanks IntuitAsh, I am using the Quickbooks payroll and t...

Thanks IntuitAsh, I am using the Quickbooks payroll and to posting an expense payment worked a treat. Mike
QuickBooks Team

No worries Mike, any problems, please feel free to get in...

No worries Mike, any problems, please feel free to get in touch :)