Sage opening balance for employees salary sub

Posted by rozroz PM | on Mon, 05/07/2010 - 15:23  1277  3 comments | report

just starting an existing clients accounts and putting them onto sage for 1.4.2010. I post a wages journal through each month and have a £200 sub that was given to an employee in March and this is to be deducted from his salary £100 in April and £100 in May.  Where should I post the £200 opening balance to.

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Wages Subs

Beacon | Mon, 05/07/2010 - 15:45 | Permalink

The opening balace can be put into a debtor account on the balance sheet, say 1104 called wages subs, if you want a clean account. The journals for Apl & May will then clear this balance.

Sage

rozroz | Mon, 05/07/2010 - 16:15 | Permalink

Thanks for the info, I had posted as debtor but was not 100% certain.

petersaxton's picture

More than one way

petersaxton | Mon, 05/07/2010 - 17:05 | Permalink

Well, you could do it by debiting net wages and it would work out right because there should be a debit on net wages until the loan is repaid. The way shown would involve a journal each month.

I prefer the way shown because the debtor is in the correct place.

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