Director salary bank tagging and journal

[DorotaD]

I have read some threads on this and still don’t understand.

When I tag director salary from bank feed: net salaries paid: director, an entry goes to 7001, but this is a net salary paid. Then I need to do the journal entry for gross director salary, PAYE and NIC. I understand a process for staff wages and I move staff wages from 7003 to 7000, but I need to keep director salaries separate from staff salaries.

Any advise would be apreciated.

[QFMathew]

Hi @DorotaD

There are a few things you need to be do in the way of a journal to separate the PAYE etc. We have a guide with an example in our knowledge base. This uses a generic overview with most things included so you can get an idea of how it’s completed. With directors, you would just use 7001 in place of 7000.

Recording payroll

Introduction A common query that comes up on our forums are in regards to recording payroll. How you record it does depend on your setup, but we'll look at both options below. The 2 ways that payroll can be handled within QuickFile are: With a payroll journal Without a payroll journal 1. With a payroll journal The advantage of a payroll journal is that it allows you to record it prior to paying your employees, and it would show as a Liability on your balance sheet report. If you run your o…

I hope that helps!

[DorotaD]

Thank you for a very quick response! I did not turn on “post net wages to balance sheet only” before. Did it now, and hopefully will all be fine.

[janekbar5]

Hi Dorota
I’m Janek do you still use quickfile?
Thanks