Question asked by Paul Walpole 8 years ago
Hi
My accountant is currently continue to run my payroll until the start of the next financial year. When I receive the liabilities for Income tax & NI they come over as one figure (minus our employment allowance) and so we pay this over as one payment to HMRC.
On the accounting codes though there is several options - employees NI, employers NI & PAYE. Which is best to use as on the bank account it will be one payment?
Cheers
Hi Paul - if you are using CB's payroll the above account codes are irrelevant for the payment of PAYE, you just pay off the bill CB creates.
If, on the other hand, the payroll is run outside CB then your accountant is likely to bring in the numbers as a journal entry and will, almost certainly, put the sum payable to creditors account such as "PAYE liability" or "Payroll liabilities".
In case it's of use, for the P&L accounts you quote, it's only the Employers' NI account that is ever used, everything else is effectively taken care of in the salaries or wages gross pay accounts.
Best answerHi Paul, it's probably best to ask your accountant this - although a new account can be created if needed on the Settings>Accounting>Account codes menu
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