Hi,
I use QBooks for one of my Client with Payroll processed monthly on a different software. I need help with how to post the correct monthly payroll JRN to reflect wages paid from bank account as well as PAYE/NI liability.
I have set up Expense/Payroll Expenses X Employee for each employee - this is as far as I got.
I also need to post the Employer Allowance to reflect the monthly allowance for NI given by HMRC and need to find out the correct JRN entry.
I tend to enter these as Cheques rather than Journals but the effect is the same I think.
I don't separate out individual employees - just do as one bulk payment - although I do separate pension & NI contributions...
Notice that the first three lines add to Expenses (positive numbers) while the final three reduce the payment (negative) by moving the amounts to Liabilities.
Hope this helps.
@Elena Teofil wrote:I also need to post the Employer Allowance to reflect the monthly allowance for NI given by HMRC and need to find out the correct JRN entry.
Same again - I post this directly to the PAYE/NIC Cheque, simply as a reduction in the Employer NIC Expenses...
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Hope this helps.
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