3 Payroll Accounts - Revision history

Angelica at 00:09, 12 December 2014

2014-12-12T00:09:15Z

Simon Clive at 06:23, 29 December 2011

2011-12-29T06:23:54Z

Simon Clive: Created page with "Payroll Accounts Has the Payroll Accounts structure been explained thoroughly? Clearing Account Payroll Clearing Account - This must be a clearing account, not an actual Bank A..."

2011-06-29T23:05:09Z

Created page with "Payroll Accounts Has the Payroll Accounts structure been explained thoroughly? Clearing Account Payroll Clearing Account - This must be a clearing account, not an actual Bank A..."

New page

Payroll Accounts

Has the Payroll Accounts structure been explained thoroughly?

Clearing Account
Payroll Clearing Account - This must be a clearing account, not an actual Bank Account. Defaults to Payroll Bank
Clearing.

Expense Accounts - These are the costs to the company, irrelevant of payment or not. Use these accounts in
the BAS/VAT
Gross Wages - This is typically a simple header account, in that you don't post anything to this account, but
use it as a summing account of those under it
Leave Paid - This is the expense account for all leave types. Accrued leave is expensed at the time it accrues
at the pay rate current at that time. When leave is taken it is expensed to Gross Wages at the actual current
rate and the Leave Paid expense account is reduced by the original accrued amount.
Super Paid - This is the expense account for superanuation
Net Wages - This account records the actual cash paid to the employee
Deduction Paid (Default) - This is the expense account for deductions
Sundries - Any expense entered as sundries will show here
Allowance Paid (Default) - This is the expense account for Allowences
PAYG Expense - This is the tax expense as part of payroll

Liability Accounts - These are the payments that are to be paid to the various suppliers, including the tax office. DO
NOT Use these accounts in the BAS/VAT
Deductions Liability - Amounts that need to be paid for any deductions taken from the employee ie union fees etc
Leave Liability - Amounts accured for any Leave type that are to be paid to the employee when that leave type
is taken
Allowances Liability - Amounts that need to be paid for any allowences given to the employee ie travel allowence etc
Super Payable - Amounts that need to be paid to the employees super fund
PAYG Tax Payable - Amounts that need to be paid to the Tax office.

← Older revision		Revision as of 00:09, 12 December 2014
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	'''Payroll Accounts'''		'''Payroll Accounts'''

−	Has the Payroll Accounts structure been explained thoroughly?	+	'''Has the Payroll Accounts structure been explained thoroughly?'''

@@ Line 1: / Line 1: @@
-Payroll Accounts
+'''Payroll Accounts'''
 Has the Payroll Accounts structure been explained thoroughly?
-Liability Accounts - These are the payments that are to be paid to the various suppliers, including the tax office. DO
+<u>'''Payroll Bank Clearing'''</u>&nbsp; This must be a clearing account, not an actual Bank Account. Defaults to '''Payroll Bank Clearing'''.
-	NOT Use these accounts in the BAS/VAT
 Deductions Liability - Amounts that need to be paid for any deductions taken from the employee ie union fees etc
 Leave Liability - Amounts accured for any Leave type that are to be paid to the employee when that leave type
-	is taken
+<u>'''Expense Accounts'''</u>&nbsp; These are the costs to the company, irrelevant of payment or not. Use these accounts in the BAS/VAT
 Allowances Liability - Amounts that need to be paid for any allowences given to the employee ie travel allowence etc
-Super Payable - Amounts that need to be paid to the employees super fund
+'''Gross Wages''' - This is typically a simple header account, in that you don't post anything to this account, but use it as a summing account of those under it
 PAYG Tax Payable - Amounts that need to be paid to the Tax office.