hi i need help with this TPS export data to QF
and on QF it create following transaction
Nominal
Description
Debit
Credit
7000
gross wages
3800.00
-
7006
employer NI
86.40
-
2220
net pay
-
3756.76
2210
paye
-
37.00
2211
NI
-
92.64
total debit and credit matched 3886.40
however when i tagging the pament
the bank statement i tag the money out to staff account as salary paid (2220), some were director salary. or the tagging was from director loan account to clear the balance when deduct wages.
and now the 2220 seems like doubled of what actually paid base on the Profit and loss account
can someone advise me which way i done wrong?
I tidied up the journal in your post a little bit to make it a bit easier to read - hope that’s OK.
As far as I can see, the journal looks fine (although, I’m not an accountant, so it may be best to check with one).
I think the issue may be with the tagging of bank entries. Can I, first of all, check if you have this option switched ON in advanced settings?
If this is switched off, tagging the salary payments on the bank will create a double entry
hi yes that was switched off, and i just learned that the journal export from TPS while i tag the bank transaction it making those 2220 figures doubled. i spend whole day yesterday clear this. also need to separate the director salary by debit the gross wagess and credit the director salary etc. didnt know that post net wages to balance sheet on need to TURN ON.thanks for reply
