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Record payroll payments to Revenue

Created on  | Last modified on 

Summary

Record your payment to Revenue in Sage Accounting and Accounting Start.

Description

When you make your payment to Revenue, you need to show this in your accounts. This is so you can reconcile the payment in your bank. The amount you owe reduces and shows accurately on your reports.

When you create the payment, you'll need to record it against various ledger accounts. This depends on the breakdown of your liability to the Revenue.

Resolution

Automatic posting - Using Sage Payroll

In Sage Accounting, you can enable Payroll integration and choose your settings.

Accounting creates a journal using the default ledger accounts set up in Accounting.

If you want to record the journal using your own ledger accounts, you need to create a manual journal instead. You may also want to do this if you require more detailed reporting. 

For more information, read Integrate Payroll with Accounting.

Manual posting - Other payroll systems

▼Record Revenue payments as a Bank Payment
  1. From Banking, open the required bank account.
  2. Choose New Entry, then select Purchase/Payment.
     NOTE:  In Accounting Start, choose New Entry, then Money out.  
  3. Choose Other Payment then enter the date for the payment.
  4. Enter the amount paid to the Revenue.
  5. Add separate lines for tax and national insurance. Include student loan payments, if applicable.
    Ledger Account VAT rate
    2210 - PAYE/USC to pay to Revenue No VAT

    2220 - PRSI to pay to the Revenue

    		 No VAT
    2280 - Local Property Tax (LPT) No VAT
    2270 - Universal Social Charge No VAT
▼Record Revenue payments as a Journal

To do this you need to create the following journal:

Ledger Account code Ledger Account Debit Credit
Code used for the bank account Bank account   Credit
2210 PAYE/USC to pay to the Revenue Debit  

2220

 PRSI to pay to the Revenue Debit  
2280 Local Property Tax (LPT) Debit  
2270 Universal Social Charge Debit