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Reconcile PAYE Creditors?

  • 58 posts
  • # 88065

Hi,

It is our Year End and our Accountant has asked me to get most things reconciled.  This is fine except that I am slightly stumped by PAYE Creditors... is there another term this is known by or if not can someone explain exactly where I find this in Sage 50?  Sorry if I'm being a bit dump here :-(

Thanks
Jo'Anne 
Jocelyn
  • Member
  • 71 posts
  • # 88094

Hi Jo'Anne


I know at the end of the year the payroll codes and attached codes are reconciled, which is normally done on a spreadsheet,  but as to what he means by PAYE Creditors I don't know.  I would ask him to clarify what he means.  



Regards
  • 58 posts
  • # 88106

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> Thank you Jocelyn, well we don't have a spreadsheet, but we could do one (there's only 6 employees in total so it shouldn't take too long, but yes I will be asking for further clarification.
Jo'Anne
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  • 115 posts
  • # 88117

Hi Jo`Anne

He probably means the amount you owe hmrc for Paye/Ni at the year end, which you would pay by the 22nd of the following month. It will be the credit balance of nominals 2210 & 2211.

Steve
  • 58 posts
  • # 88130

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> Thank you. Mmm my boss is in arrears with hmrc, so far our n/c 2212 PATE/NIC has recordings of payments already made to hmrc ?!?
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  • 115 posts
  • # 88135

Each time you run a payroll and journal the wages to sage you should be crediting net wages, tax and ni (usually 2220, 2210 and 2211) When you pay the wages out of the bank you debit net wages and so 2220 goes back to zero.
Like wise when you pay hmrc (usually during the next month) their tax/ni, you debit 2210 & 2211 (or in your case 2212) and it goes back to zero.
Are you saying your nominal 2212 has only got payments (debit entries) in it?
  • 58 posts
  • # 88139

> Mmm they've only recently gone computerised..! There are no Journals at all being done and the wages are done on Payroll Manager - I only see payments going out once I get hold of the bank statements...! This is the same for VAT liability - is this a hole I am ever going to get out of?
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