Hey, good question! In Xero hopefully you have a bank feed that brings in the transactions each day for you. When the payment of the wages and liabilities come in, reconcile (or post) those payments against the account codes used on the 'right side' of the journal. So in this video, wages against 814 - Wages Payable. PAYE against 825 - PAYE Payable. Hope that answers the question for you and thanks for watching and getting in touch.
Hey, with maternity it would usually decrease the amount you expect to pay to HMRC for National Insurance, you can adjust your journal to reflect this. If you receive an actual payment we would still post that to the National Insurance code as this is where we see what is expected to be paid to or received from HMRC. Hope that helps but give your accountant a shout if not! :-)
How do we reconcile wages payment from journal
Hi there
How do you clear those journals on Xero I mean how do you make a bank payment for the wages and liabilities?
Hey, good question! In Xero hopefully you have a bank feed that brings in the transactions each day for you. When the payment of the wages and liabilities come in, reconcile (or post) those payments against the account codes used on the 'right side' of the journal. So in this video, wages against 814 - Wages Payable. PAYE against 825 - PAYE Payable. Hope that answers the question for you and thanks for watching and getting in touch.
what nominal do i post maternity cheques received by employer to? does this go under wages and salaries 477 as it tops up gross pay?
Hey, with maternity it would usually decrease the amount you expect to pay to HMRC for National Insurance, you can adjust your journal to reflect this. If you receive an actual payment we would still post that to the National Insurance code as this is where we see what is expected to be paid to or received from HMRC. Hope that helps but give your accountant a shout if not! :-)