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Thread: Monthend Payroll journals - Help

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    Monthend Payroll journals - Help

    When I get the payroll report from VIP or Pastel Payroll

    I do I process the journals in Pastel and which accounts do I credit and debit. When I capture the cash book which account to I celect to alocate all the salaries paid to employees.

    regards

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    Hi

    I havent received any advice on my question above.

    Can anyone help?

    regards

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    Silver Member Christel's Avatar
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    Hi gidalene,
    I normally work from my cashbook and post all net pay outs to the various employees' salary gl. Then I process the emp201 for the month as a supplier invoice and allocate the 1% UIF to employee salary gl, 1% UIF to company contribution, 1% sdl to company contribution and paye to employee salary gl account.
    always fear when Christel is near....

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    Quote Originally Posted by gidalene@gmail.com View Post
    When I get the payroll report from VIP or Pastel Payroll

    I do I process the journals in Pastel and which accounts do I credit and debit. When I capture the cash book which account to I celect to alocate all the salaries paid to employees.
    If you are using Pastel Payroll, the monthly analysis is the easiest source.
    Debit Salaries "Total Income" as it appears on the analysis (Expense account)
    Debit Company Contributions "Company contributions" as it appears on the analysis (Expense account) Use sub-accounts for each type.
    Credit Payroll Liabilities:SARS with the total PAYE, SDL, UIF Company and UIF Deduction
    Credit Payroll Liabilities:Third Parties with deducted amounts if applicable, such as Pension, RA, Medical, and so on. You should probably have sub-accounts for each.
    Finally, credit Payroll Liabilities: Net Pay with the Net pay.

    When you pay the employees, you debit Net Pay.
    When you pay SARS or third parties, debit the appropriate liability account.

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    Thank you very much for the 2 replies, it was very informative.

    Regards
    G.Idalene

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    Hello,
    I have just joined the forum and looking forward to a great experience as we interact on the accounting queries. I am just learning to use the accounting software and I need a lot of help from any one willing to help.

    Thank you very much.

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