No PAYE or NI payments in chart of accounts

Accounting
1

Although I have tagged payments from my account as PAYE and NI liabilities they are not showing up as such in my chart of accounts - I’m now to this so please excuse me if it is a stupid question.

Sine

2

Try selecting ‘All Time’ from the ‘Chart of Nominal Account’:

823×125 2.16 KB

3

I’ve tried that and still no payments for NI and paye appear in that nominal account- have tried to change it from the purchase record but when I click the tagged button it says it has been allocated to PAYE. Same with vat payments. There is nothing to show the payments in the chart of accounts.

4

Hi

I thought I had this problem (PAYE and NI payments not showing up in chart of accounts) as well, but found it hidden under nominal code 2210 P.A.Y.E. which is under assets and liabilities (a minimised section) rather than overheads.

This is confusing as to me (a non accountant) PAYE payments made should be an expense rather than a liability, and there is also nominal codes 7006 for Employers N.I.

Advice would be appreciated.

Thanks
James

5

Perhaps @Joe can tell you more but the 2210 code is to track any liability on the PAYE account, it serves a slightly different purpose to the other codes in the Overheads section. 2210 holds the balance of any funds payable to HMRC between the point you run the payroll and the point you transfer the money to HMRC, during which period it’s a liability.

There’s a related post here, that may help:

http://community.quickfile.co.uk/t/does-paye-comes-off-profits/241

There’s also a more detailed ‘how to’ guide on payroll journals here:

http://community.quickfile.co.uk/t/how-do-i-enter-payroll-paye-journals-and-entries/53

6

If you refer to the second post referred to above by Glenn, it explains and provides an example:

7

All items in the Balance sheet are just performing a balancing act and letting you know an entry is required to balance the figures to £0 at a point in time. Hence all Balance sheet items do not effect the PNL and remain there awaiting activity. This is why the only figure in profit & loss is the Employers NI which is an additional wages cost to the company.

8

Can you please explain how to do this - or where I can find instructions. Thankyou

9

Please see the thread below:

http://community.quickfile.co.uk/t/how-do-i-enter-payroll-paye-journals-and-entries/53/4

10

We pay funds to HMRC as soon as we have run payroll, so I don’t think 2210 is relevant to us. Which code should we be using?

11

Hi James,
I use 12pay payroll and it produces a nominal account summary of the entries as in this mock up example of :
http://screencast.com/t/jAg0oadXbzv

The Nominal codes and their DR or CR figs are entered into Quickfile which takes care of all the paye postings except the wage payment and the hmrc payment.
Those payments are done via your bank statement

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