Sage opening balance for employees salary sub

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.

Comments

Wages Subs

Beacon | | 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 | | Permalink

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

petersaxton's picture

More than one way

petersaxton | | 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.

Add comment
Log in or register to post comments