Q. How do I record Payroll entries or set up a Wages Control Account?
A. Follow the attached how to for best practice on this
Payroll entries / Wages Control Account
Q. How do I record Payroll entries or set up a Wages Control Account?
A. Follow the attached how to for best practice on this
Comments
5 comments
How do I handle LPT being deducted from employees wages?
In the document it says "Debit (P&L) Employee Payroll with the Gross Pay excluding Employer’s PRSI, Credit Wage Control (BS) with the Gross Pay" but in the screenshot it says "Gross Pay including PRSI ER". Should it be included or excluded?
Many Thanks
Hi Stefan
Sorry about that, it should be including - once you've entered your journal, check your Balance Sheet and your P&L and make sure that the figures are matching your Payroll Software.
Anne
Great, many thanks!
How do we submit entries for employees and directors? Our accountant has told us these need to be split out for the accounts.
Many Thanks in advance
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