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Nominal codes for wages and salaries

Bookkeeping and Management Accounting help does not have to be specific to the use of Sage 50
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ronnieg
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Nominal codes for wages and salaries

Post by ronnieg » 18 Aug 2014, 14:01

I think I've used the wrong nominal accounts for wages and salaries.

I used 2220 'Net Wages' for the weekly payments made to employees and 7001 'Gross Salary' for monthly payments to Directors.

Compiling my year-end figures now and 2220 balance appears on Trial Balance but not on the P&L, and the payments made to Directors were net of deductions so not Gross Salary.

What nominal codes should I have used...and can I just make journal adjustments to put them in the right place?

Ron

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brucedenney
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Re: Nominal codes for wages and salaries

Post by brucedenney » 18 Aug 2014, 15:09

Here is my overview about posting wages journals... hopefully it will help.

http://support.makingithappen.co.uk/sag ... .htm#Wages
For just about anything Sage :- Discount subscriptions, pay-as-you-go support, application integration, reports, layouts, linked excel spreadsheets, analysis or any other help making life with sage easier/less time consuming Contact me.

ronnieg
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Re: Nominal codes for wages and salaries

Post by ronnieg » 19 Aug 2014, 10:47

Thanks Bruce.

I also found an earlier post of yours (after I posted my query) which was very helpful too.

viewtopic.php?f=9&t=1070&p=3619&hilit=p ... ries#p3619

Ron

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