Employer Pension Contributions
@SJH wrote: I wish to record contributions to a directors pension. How do I do this, I know the code is 7007 Employers Pension Contribution which I found under reports/Charts of accounts. But do I...
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@ian_roberts wrote: It wouldn’t be a purchase, it would be part of the journal you enter when you run your payroll (debit 7007 for the employer’s contribution, credit 2230 for the sum of the...
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@SJH wrote: Thank you for that concise reply, I think it may have thrown me up more questions than answers. I don’t think I have really grasped the workings of this programme yet having previously...
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@QFMathew wrote: @SJH - just to add to Ian’s post above, you may find the following guide helpful: Recording payroll Read full topic
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@SJH wrote: Thank you Ian all very helpful Read full topic
View ArticleEmployer Pension Contributions
@jwf wrote: For a limited company, direct employer pension contributions to a director’s pension provider are irrelevant to payroll, salary or NI. Just tag the bank transaction (create it first...
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@SJH wrote: Thanks just struggling to understand what tagging does. I have a monthly bank tx to pension provider so have tagged that to 7007 Monthly salary is made up of £xx paid from current a/c plus...
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@jwf wrote: ‘Tagging’ a bank entry (not the same as ‘project tag’) is just a shortcut way of getting QF to do the journal entries for you. Every journal debit needs a corresponding journal credit(s)...
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