Directors' Salaries

G

Gordon

Keith said:
How do I record directors' salaries in Accounting Express 2008, UK Version
Click to expand...


Same as any other salary AFAIK - Director's salaries are subject to normal
PAYE regulations.....
 
B

Bob Buckland ?:-\)

Hi Keith,

You may want to also post questions on this to the MS Office Accounting discussion group using the link below.

=============
How do I record directors' salaries in Accounting Express 2008, UK Version>>
--
Please let us know if this has helped you,

Bob Buckland ?:)
MS Office Products MVP

LINKS

A. U.S. Editions of MS Office Accounting
-news/discussion group via newsreader software
news://msnews.microsoft.com/microsoft.public.sba.general
or
-news/discussion group via web browser:
http://microsoft.com/communities/newsgroups/en-us/?dg=microsoft.public.sba.general

B. U.K. Editions of MS Office Accounting
-news/discussion group via newsreader software
news://msnews.microsoft.com/microsoft.public.uk.moa
or
-news/discussion group via web browser:
http://microsoft.com/communities/newsgroups/en-us/?dg=microsoft.public.uk.moa

C. MS Office product 'Community' discussions via Web Browser
http://microsoft.com/office/community/en-us/default.mspx
or
Microsoft hosted newsgroups via newsreader
news://msnews.microsoft.com
 
D

DL

By posting the payments against an account Directors Salaries, which is of
the type Expense
Of course if Tax & NI is involved there are further entries
 
K

Keith

Thanks for the feedback. Unfortunately, I still don't where in the Chart of
Accounts to make the entries
 
K

Keith

Thanks for the response. I will try this

DL said:
By posting the payments against an account Directors Salaries, which is of
the type Expense
Of course if Tax & NI is involved there are further entries
Click to expand...
 
G

Gordon

Keith said:
Thanks for the feedback. Unfortunately, I still don't where in the Chart
of
Accounts to make the entries
Click to expand...

Debit Directors Salary in the P&L with total Gross Pay.
Debit Directors NIC in P&L with Employers NIC
Credit PAYE Control Account in the Balance Sheet with PAYE deducted and
Employers AND Employees NIC.
Debit Payroll Control Account in the Balance Sheet with PAYE deducted and
Employees NIC. Credit Payroll Control Account with Gross Pay. (The Credit
balance on this account now should be equal to Net Pay)

When you actually make the payment to the Director(s), Credit Bank account
with Net Pay, debit PAYE Control Account with Net Pay. The Control Account
should have a balance of £0 after this - if it hasn't then there's something
wrong either with the payroll or the postings.

HTH

PS - you know the little trick of using hand-written "T" accounts, if you
can't work out what entries you need?

I would get a simple Accounting text book as well.
 
B

Bob Buckland ?:-\)

Hi Keith,

Hmmm. I just tried all four links and they each worked.


=============
Thanks for the response. I tried the links, but didn't get to the discussion
group <<
--
Please let us know if this has helped you,

Bob Buckland ?:)
MS Office Products MVP

LINKS

A. U.S. Editions of MS Office Accounting
-news/discussion group via newsreader software
news://msnews.microsoft.com/microsoft.public.sba.general
or
-news/discussion group via web browser:
http://microsoft.com/communities/newsgroups/en-us/?dg=microsoft.public.sba.general

B. U.K. Editions of MS Office Accounting
-news/discussion group via newsreader software
news://msnews.microsoft.com/microsoft.public.uk.moa
or
-news/discussion group via web browser:
http://microsoft.com/communities/newsgroups/en-us/?dg=microsoft.public.uk.moa

C. MS Office product 'Community' discussions via Web Browser
http://microsoft.com/office/community/en-us/default.mspx
or
Microsoft hosted newsgroups via newsreader
news://msnews.microsoft.com
 
G

Gordon

Gordon said:
Debit Directors Salary in the P&L with total Gross Pay.
Debit Directors NIC in P&L with Employers NIC
Credit PAYE Control Account in the Balance Sheet with PAYE deducted and
Employers AND Employees NIC.
Debit Payroll Control Account in the Balance Sheet with PAYE deducted and
Employees NIC. Credit Payroll Control Account with Gross Pay. (The Credit
balance on this account now should be equal to Net Pay)

When you actually make the payment to the Director(s), Credit Bank account
with Net Pay, debit PAYE Control Account with Net Pay. The Control Account
should have a balance of £0 after this - if it hasn't then there's
something wrong either with the payroll or the postings.

HTH

PS - you know the little trick of using hand-written "T" accounts, if you
can't work out what entries you need?

I would get a simple Accounting text book as well.
Click to expand...


Sorry forgot to mention - both PAYE Control Account (the balance of which is
what is owed to the Revenue and Customs) and the Payroll Control Account
should be created in the Short-Term Liabilities section of the Balance
Sheet...
 
K

Keith

Thanks for the follow-up

I did find them

Bob Buckland ?:-) said:
Hi Keith,

Hmmm. I just tried all four links and they each worked.


=============
Thanks for the response. I tried the links, but didn't get to the discussion
group <<
--
Please let us know if this has helped you,

Bob Buckland ?:)
MS Office Products MVP


LINKS

A. U.S. Editions of MS Office Accounting
-news/discussion group via newsreader software
news://msnews.microsoft.com/microsoft.public.sba.general
or
-news/discussion group via web browser:
http://microsoft.com/communities/newsgroups/en-us/?dg=microsoft.public.sba.general

B. U.K. Editions of MS Office Accounting
-news/discussion group via newsreader software
news://msnews.microsoft.com/microsoft.public.uk.moa
or
-news/discussion group via web browser:
http://microsoft.com/communities/newsgroups/en-us/?dg=microsoft.public.uk.moa

C. MS Office product 'Community' discussions via Web Browser
http://microsoft.com/office/community/en-us/default.mspx
or
Microsoft hosted newsgroups via newsreader
news://msnews.microsoft.com
Click to expand...
 
K

Keith

Thank you for this.

I have also found that in Sage Instant Accounts that Directors Salaries are
an Overhead
 
G

Gordon

Keith said:
Thank you for this.

I have also found that in Sage Instant Accounts that Directors Salaries
are
an Overhead
Click to expand...

That's generally correct - depends on whether the Directors generate any
revenue.....
 
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