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Salary sacrifice pension journal

Are we posting the journal correctly

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I don't think we are posting our salary journals correctly. We have salary sacrifice pensions.  So only following Ee1. Gross 680.60, ss 16.94, paye 91, ni ee 60.20, ni er 69.23, pension er 11.29 net pay 512.46.

Currently posting

Wages 663.66

Pension 28.23

Ni 69.23

Bs 

Ni -129.43

Paye -91

Pension -28.23

Net pay - 512.46

The pensions are overstated . I believe what we should have done in brief is the following 

Wages 680.60

Ss -16.94

Pension 11.29

Bs

Pension 11.29

And then matched the payments to the p&l and bs.

However our payments are a bit of a pain to unravel!! So I can either journal the pl ss straight to the bs or in the original journal put the ss straight to the bs, are there any compliance frs issues with this! Many thanks

 

 

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By Grundy
24th Aug 2018 08:33

Corrected to reflect being an idiot

Gross 680.60 - Wages
ni er 69.23 - NI P+L
pension er 11.29 - Pension P+L
ss 16.94 - Pension BS Account
paye 91 - PAYE/NI BS Account
ni ee 60.20 - PAYE/NI BS Account
ni er 69.23 - PAYE/NI BS Account
pension er 11.29 - Pension BS Account
net pay 512.46 - Salary Control BS Account

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By Pygmy
to Grundy
23rd Aug 2018 16:16

The gross wage of £680.06 does not include ni er of £69.23 and pension er of £11.29 so the P&L side is light by £80.52

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By Grundy
to Pygmy
24th Aug 2018 08:32

Yes, I have failed at basic double entry. The shame

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28th Aug 2018 15:25

I agree with the 1st posting

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