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Posting WAGES as a Work In Progress

  • 6 posts
  • # 92542

Could anyone please explain how I'd enter wages into SAGE if they were being treated as work in progress? (i.e. wages paid to staff on a property development).

I understand the journal entries.. and then the corresponding bank payments, but am not sure of the methods/nominals used when it comes to posting wages in that way. (I'm using SAGE Instant Accounts, similar enough to SAGE 50 for these purposes).

Thanks for any help! :)
Beverley Flanagan
  • 51 posts
  • # 92652

Hi Spencer,

Do you mean physically paying staff but not putting through the payroll til later or putting through the payroll but not paying them til later please ?

 

  • Kind regards,

    Beverley Flanagan MICB, CB Dip, PM Dip
    Flex Accounting Services Ltd



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PeteL
  • Member
  • Practice Licence
  • 88 posts
  • # 92658

Is this a question related to standard costing Spencer ?
If so, a separate set of journal entries are required over and above the payroll paid hours.

  • Kind regards,
    PeteL   Smile


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  • 6 posts
  • # 93178

Beverley Flanagansaid:

“Hi Spencer,

Do you mean physically paying staff but not putting through the payroll til later or putting through the payroll but not paying them til later please ?

 ”

Hi Beverley, the staff have already been paid, I'm basically computerising the accounts onto SAGE (I have very little experience). Someone said on another forum that I should enter the wages in a journal (as per usual, which I understand) but then use a SEPERATE journal to take wages out of overheads and into WIP... this is the part I'm not confident with.

Could you please explain in layman's terms what this means? Is there a certain part of the wages that goes to WIP? (i.e. gross or paye or nic or a combination)

Thanks for the help :)
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