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correcting employment allowance from previous years

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Mrs Jaye
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Sage Version: v2018 24 UK/Europe/Africa

correcting employment allowance from previous years

Post by Mrs Jaye » 21 Jan 2021, 11:13

Hi, hoping someone can help.

I did not claim for employment allowance in 17/18 and 18/19 (oversight!). I have now claimed for both years and received a credit in November 20 on my HMRC paye account for £436.49.

When paying my paye/nic due for Nov 20, i reduced the amount owed of £620.48 by the £436.49 credit on my account and paid £183.99. It now looks on my nominal account as if I still owe the £439.49. How do I clear this as the credit is from previous accounting years?

I thought a journal debit to the paye/nic account and a journal credit to mispostings?

Thanks in advance for any help.

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brucedenney
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Re: correcting employment allowance from previous years

Post by brucedenney » 21 Jan 2021, 11:25

You have made the adjustment in real life, but not in sage.

All you need to do is to reflect the change in Sage.

It is a journal between the PAYE/NI Liability account to the account you use to record your employment allowance in the p&l.

The liability account should return to zero and the p&l should now show the gain from taking up the allowance.
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Mrs Jaye
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Joined: 21 Jan 2021, 10:37
Sage Version: v2018 24 UK/Europe/Africa

Re: correcting employment allowance from previous years

Post by Mrs Jaye » 21 Jan 2021, 11:40

Ahh, that makes sense. Thank you so much for your help :) really appreciated.

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