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Thread: Salaries Journals

  1. #1
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    Salaries Journals

    Hi All,

    I just want to know what the correct way is for posting the salaries journals at month end.

    We have the following:

    Gross Salaries R 208 244.95

    Nett Salaries R 180 156.36

    PAYE R 25 863.06
    UIF Employer R 1 638.49
    UIF Employee R 1 638.49
    SDL Employer R 2 082.45
    Total EMP 201=R 31 222.49


    Please help me with this as The company pays half of UIF and the SDL (obviously) and i need to know how to journalise this correctly.

  2. #2
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    Hi Mango

    Debit Salaries and Wages R 208,244.95 (Expense)
    Debit Co. Contr, UIF R 1,638.49 (Expense)
    Debit SDL Levy R 2,082.45 (Expense)
    Credit SARS (PAYE+UIF+SDL (R 31,222.49) (Liability)
    Credit Net Pay (R 180,743.40) (Liability)

  3. Thanks given for this post:

    mango (30-May-16)

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