Paye payment appears as current asset in balance sheet

Accounting
1

When I record a paye payment using the ‘tax payment to HMRC’ and the ‘PAYE’ in the tagging of bank account entries, the entry appears as current asset in the balance sheet. Which obviously it is not.

2

Hello @alvear

Have you already recorded the wages, the payment should offset you salary journal.

If you are not using Journals please see section 2 of the article below.

I have included a link to the recording a link to our recording Payroll article.

https://support.quickfile.co.uk/t/recording-payroll/16003

3

Thanks very much. I read the article and it makes sense. I have not tried with my data but it looks as if it will work THANKS :grinning:

4

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