Wages Journal Basics - How to Payroll Accounting

In this video, I share how to complete wages journals for payroll. This tutorial demonstrates UK Payroll accounting but the principles of double-entry are used internationally. The debits and credits of gross pay, net pay, employers and employees tax are detailed.
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Пікірлер: 126

  • @NI-nf8eh
    @NI-nf8eh6 жыл бұрын

    Thank you. A lot of accountants are very protective about their knowledge, this explains it more clearly than any accountant I work with.

  • @BookkeepingMaster

    @BookkeepingMaster

    6 жыл бұрын

    Great! I am glad the video helped. Thanks for watching.

  • @ladysylvia7977
    @ladysylvia7977 Жыл бұрын

    Makes it much easier to follow than diving straight into a book thank you so much

  • @BookkeepingMaster

    @BookkeepingMaster

    Жыл бұрын

    Thanks

  • @christinamashanda6475
    @christinamashanda64754 жыл бұрын

    This is the first of your tutorials I have watched. I was completely blank in this area; thanks to your simple logical explanations, I am now the wiser.All the way from South Africa!

  • @BookkeepingMaster

    @BookkeepingMaster

    4 жыл бұрын

    No problem. Thanks for watching. Much love from the UK!

  • @sylviajuma6968
    @sylviajuma69682 жыл бұрын

    Thanks a lot for the knowledge shared. For two years I have not been fully recognizing expenses/liabilities in the payroll accounts, My senior who reviews my work has never complained or even questioned what I do. I'm not allowed to consult or even question, I'm supposed to find out things on my own, that's the companies culture. I really cant tell if what I'm doing is right or wrong since I got the job after college, started as an intern and from them I'm always told to find a way. You really helped me.With Love from Kenya.

  • @BookkeepingMaster

    @BookkeepingMaster

    2 жыл бұрын

    I'm so glad that my content helped! Thanks so much for the comment

  • @languagetreasure-kotobatak9056
    @languagetreasure-kotobatak90564 жыл бұрын

    thank you for your videos. Its amazing to find someone explaining those things. its easier to understand when listen and read, not just reading,

  • @BookkeepingMaster

    @BookkeepingMaster

    4 жыл бұрын

    Glad it was helpful! Thanks for watching.

  • @maimisa
    @maimisa Жыл бұрын

    Best Analysis of the Payroll Journal...

  • @BookkeepingMaster

    @BookkeepingMaster

    Жыл бұрын

    Thank you so much for your kind words and for watching

  • @sojiakin-bankole3809
    @sojiakin-bankole38094 жыл бұрын

    Thank you so much, your tutorials have been very useful and easy to understand. The PEARLS thing is such a useful tool.

  • @BookkeepingMaster

    @BookkeepingMaster

    4 жыл бұрын

    No problem. Thanks for watching.

  • @Candyrock15
    @Candyrock155 жыл бұрын

    Thanks I think this is really helpful and educational. your explanation is really great for an aspiring trainee payroll officer.

  • @BookkeepingMaster

    @BookkeepingMaster

    5 жыл бұрын

    Thanks a lot. Your kind words are much appreciated.

  • @sm4135
    @sm41352 жыл бұрын

    Thanks for sharing this in a very simplified way.! Really helpful.

  • @BookkeepingMaster

    @BookkeepingMaster

    2 жыл бұрын

    I am so glad you liked it! Thanks for watching.

  • @nishanchy5306
    @nishanchy53066 жыл бұрын

    Thank you for taking out of ur time and making these videos ...

  • @BookkeepingMaster

    @BookkeepingMaster

    6 жыл бұрын

    No problem. Thanks for watching.

  • @bulaads9283
    @bulaads9283 Жыл бұрын

    Thank you so much. as a first timer im learning alot. may have to come back time and time again to watch the video.

  • @BookkeepingMaster

    @BookkeepingMaster

    Жыл бұрын

    Glad it was helpful! Thanks for watching

  • @rodrigopalomino6603
    @rodrigopalomino66037 жыл бұрын

    You are excellent, I appreciate it. Thank you very much.

  • @BookkeepingMaster

    @BookkeepingMaster

    7 жыл бұрын

    Thank you

  • @mohammedsiddiky6814
    @mohammedsiddiky6814 Жыл бұрын

    Thank you for making it clear. I was so confused about this.

  • @BookkeepingMaster

    @BookkeepingMaster

    Жыл бұрын

    You're welcome! Thank you for watching and for the comment

  • @AdamAdam-bu2fj
    @AdamAdam-bu2fj5 жыл бұрын

    Thanks, this video made things more clear.

  • @BookkeepingMaster

    @BookkeepingMaster

    5 жыл бұрын

    No problem. Thank you for watching. Please check my website for more free accounting courses and tutorials.

  • @kedeicatherineibas-adegun3408
    @kedeicatherineibas-adegun34083 ай бұрын

    Super helpful, thank you!

  • @BookkeepingMaster

    @BookkeepingMaster

    3 ай бұрын

    Thanks so much!

  • @vinetakrone9060
    @vinetakrone9060 Жыл бұрын

    Thank you very much! Amazing explanation and tutorial and the best theacher!

  • @BookkeepingMaster

    @BookkeepingMaster

    Жыл бұрын

    I'm glad you think so! Thanks for watching

  • @mustafadahir9206
    @mustafadahir92064 жыл бұрын

    Thanking You BookkeepingMaster much appreciated.

  • @BookkeepingMaster

    @BookkeepingMaster

    4 жыл бұрын

    Thanks

  • @tonia5364
    @tonia53647 ай бұрын

    It really did make sense after 2 watches :) Thanks

  • @BookkeepingMaster

    @BookkeepingMaster

    7 ай бұрын

    No problem. Thanks so much for watching

  • @joanndikum9031
    @joanndikum90312 жыл бұрын

    This has been really helpful. Thanks so much!!!👌🏽👌🏽👌🏽

  • @BookkeepingMaster

    @BookkeepingMaster

    2 жыл бұрын

    Glad it was helpful! Thanks for watching

  • @BossChronicles
    @BossChronicles7 жыл бұрын

    accounting is soo useful i am going to major in it

  • @VijayKumar-bx5lf
    @VijayKumar-bx5lf4 жыл бұрын

    This video is very helpful & thanks for sharing your knowledge

  • @BookkeepingMaster

    @BookkeepingMaster

    4 жыл бұрын

    No problem. I am glad that the video was helpful.

  • @letontete7817
    @letontete78172 жыл бұрын

    Thanks for sharing, very simple and understanding

  • @BookkeepingMaster

    @BookkeepingMaster

    2 жыл бұрын

    Glad you liked it. Thanks for watching

  • @andreabaulf8053
    @andreabaulf80532 жыл бұрын

    Thank you . Very informative and helpful.

  • @BookkeepingMaster

    @BookkeepingMaster

    2 жыл бұрын

    Glad it was helpful! Thanks for the comment

  • @Naboth8562
    @Naboth85624 ай бұрын

    Great work .Thank you sir

  • @BookkeepingMaster

    @BookkeepingMaster

    4 ай бұрын

    So nice of you. Thanks for watching

  • @marshalrichard2134
    @marshalrichard21347 жыл бұрын

    That was a awesome helpful video... thank you.. :D

  • @BookkeepingMaster

    @BookkeepingMaster

    7 жыл бұрын

    No problem. Thanks for watching.

  • @elizabethboakye7827
    @elizabethboakye7827 Жыл бұрын

    Thank you for this, i'm very grateful.

  • @BookkeepingMaster

    @BookkeepingMaster

    Жыл бұрын

    No worries! Thanks for watching

  • @faelsmaior
    @faelsmaior7 жыл бұрын

    Great video, Thanks!!

  • @BookkeepingMaster

    @BookkeepingMaster

    7 жыл бұрын

    No problem. Thanks for watching.

  • @n.wseaman668
    @n.wseaman6686 жыл бұрын

    Very informative thank you!!

  • @BookkeepingMaster

    @BookkeepingMaster

    6 жыл бұрын

    No problem. Thanks for watching.

  • @mgbasar
    @mgbasar6 ай бұрын

    Thanks so much for this help

  • @BookkeepingMaster

    @BookkeepingMaster

    5 ай бұрын

    Happy to help

  • @peace510
    @peace5103 жыл бұрын

    A very good video, thanks!

  • @BookkeepingMaster

    @BookkeepingMaster

    3 жыл бұрын

    Glad you liked it! Thanks for watching.

  • @peterhackston
    @peterhackston7 жыл бұрын

    Thank you so much

  • @eltigre7224
    @eltigre72244 жыл бұрын

    Very clear and helpful.

  • @BookkeepingMaster

    @BookkeepingMaster

    4 жыл бұрын

    Thanks

  • @patriciahayes7289
    @patriciahayes72895 жыл бұрын

    Very informative.:) Thank you I was intending to start a Training Course but feel you have shown me everything I need to know! Would you recommend that I start the course or would I be wasting valuable money? Thank you

  • @BookkeepingMaster

    @BookkeepingMaster

    5 жыл бұрын

    It depends on the course! I am glad my content has been useful. Thanks for watching.

  • @Sue-jn9dc
    @Sue-jn9dc7 жыл бұрын

    Very clear and useful video thank you

  • @BookkeepingMaster

    @BookkeepingMaster

    7 жыл бұрын

    No problem. Thanks for watching.

  • @Abdulrahman65440

    @Abdulrahman65440

    2 жыл бұрын

    thanks

  • @ewelinavalavicius299
    @ewelinavalavicius2995 жыл бұрын

    Thank you. Very helpful

  • @BookkeepingMaster

    @BookkeepingMaster

    5 жыл бұрын

    No problem. Thanks for watching.

  • @jnkvngz2965
    @jnkvngz296511 ай бұрын

    beautifully well explained. thanks!

  • @BookkeepingMaster

    @BookkeepingMaster

    11 ай бұрын

    Thanks

  • @CreativeToy2024
    @CreativeToy20243 жыл бұрын

    excellent tutorial xx

  • @BookkeepingMaster

    @BookkeepingMaster

    3 жыл бұрын

    Thanks so much 😊

  • @bradleybyng2801
    @bradleybyng28016 жыл бұрын

    I acc find the pearls thing useful. Hopefully useful for my synoptic tomorrow! Wish me luck xD

  • @BookkeepingMaster

    @BookkeepingMaster

    6 жыл бұрын

    I hope it went well!

  • @davidhaddleton9339
    @davidhaddleton93394 жыл бұрын

    Excellent refresher for a qualified accountant who has been a management consultant for 20 years and has got a bit rusty. As well as PEARLS (which I thought was very good) do you think it might be useful to differentiate between the P&L and Balance Sheet? Just a thought. Also thought a slide showing the Balance Sheet entries being paid down might be an idea. I am used to Balance Sheet Control Accounts in major ERP systems being cleared down that's all.

  • @BookkeepingMaster

    @BookkeepingMaster

    4 жыл бұрын

    Thanks for the suggestions. I do have other videos that cover the P&L etc. All are for free and are listed on my website. Thanks for watching.

  • @lwandiletshalata8649
    @lwandiletshalata86493 жыл бұрын

    Thank you Lwandile from south africa

  • @BookkeepingMaster

    @BookkeepingMaster

    3 жыл бұрын

    Thanks for watching

  • @startfromyourselfbeforejud5350
    @startfromyourselfbeforejud53506 жыл бұрын

    Thank you! Very useful video!

  • @BookkeepingMaster

    @BookkeepingMaster

    6 жыл бұрын

    No problem. Thank you for watching.

  • @ilona3868
    @ilona38683 жыл бұрын

    Very helpful. Thank you 😁😁😁

  • @BookkeepingMaster

    @BookkeepingMaster

    3 жыл бұрын

    You're welcome 😊 Thanks for watching!

  • @amyjane3111
    @amyjane31113 жыл бұрын

    When you journal the net wages from the bank account does that make up part of your gross or do you still have to create another journal for gross wages?

  • @BookkeepingMaster

    @BookkeepingMaster

    3 жыл бұрын

    The journals covered in the video will post the wages to gross wages expense. I hope this helps.

  • @swensontime
    @swensontime5 жыл бұрын

    Thumbs up! Thumbs up👍🏾

  • @BookkeepingMaster

    @BookkeepingMaster

    5 жыл бұрын

    Thank a lot

  • @vinayakingle2146
    @vinayakingle21464 жыл бұрын

    Thanks Very helpful

  • @BookkeepingMaster

    @BookkeepingMaster

    4 жыл бұрын

    No problem. Thanks for watching.

  • @mariaeliadou1506
    @mariaeliadou1506 Жыл бұрын

    Could you suggest a good software payroll program?? Many thanks for sharing your knowledge, your videos are clear to understand and extremely helpful!!

  • @BookkeepingMaster

    @BookkeepingMaster

    Жыл бұрын

    If in the UK, you can try HMRC basic tools (which is free) or Brightpay. Thanks for your kind words and for watching

  • @Skynexbox
    @Skynexbox4 жыл бұрын

    THANK YOU!!!!

  • @BookkeepingMaster

    @BookkeepingMaster

    4 жыл бұрын

    No, thank you!!!!

  • @ELVINEOHLALA
    @ELVINEOHLALA6 жыл бұрын

    thank you :)

  • @BookkeepingMaster

    @BookkeepingMaster

    6 жыл бұрын

    No problem. Love the profile pic. Thanks for watching.

  • @Nzee2002
    @Nzee20022 жыл бұрын

    great job

  • @BookkeepingMaster

    @BookkeepingMaster

    2 жыл бұрын

    Thanks for watching

  • @maimisa
    @maimisa Жыл бұрын

    Great....

  • @BookkeepingMaster

    @BookkeepingMaster

    Жыл бұрын

    Thanks

  • @peterotieno6611
    @peterotieno66115 жыл бұрын

    good tutorial

  • @BookkeepingMaster

    @BookkeepingMaster

    5 жыл бұрын

    Thanks

  • @ibrahimali-bv4zf
    @ibrahimali-bv4zf7 жыл бұрын

    Thank you

  • @BookkeepingMaster

    @BookkeepingMaster

    7 жыл бұрын

    No problem. Thanks for watching.

  • @sarajarman9221
    @sarajarman92212 жыл бұрын

    Do you have a tutorial that covers entry of the Employment Allowance via a journal?

  • @BookkeepingMaster

    @BookkeepingMaster

    2 жыл бұрын

    Sorry, I don't. Thanks for watching.

  • @seankelly9447
    @seankelly94474 жыл бұрын

    Hi. I am starting from scratch here...looking for a job in payroll....would this all be done on Sage?

  • @BookkeepingMaster

    @BookkeepingMaster

    4 жыл бұрын

    Sage has it's own payroll software; Sage Payroll. All reports and wages can be processed through the software. Thanks for watching.

  • @kynchan3332
    @kynchan33324 жыл бұрын

    It is a little more complicated than decades ago because hmrc wants to extract the maximum amount from you. So long ago we'd just pay everyone with cash, extra hours of work more cash, hiring and firing people was simple and it was particularly good.

  • @BookkeepingMaster

    @BookkeepingMaster

    4 жыл бұрын

    Thanks for the comment and for watching.

  • @MampsUK
    @MampsUK4 ай бұрын

    Great video thanks. So are you Acca or CIMA qualified

  • @BookkeepingMaster

    @BookkeepingMaster

    3 ай бұрын

    Thanks for watching.

  • @BLINKBOXHD
    @BLINKBOXHD2 жыл бұрын

    Why is net pay regarded as a liability? I understand why PAYE would be since it's an amount owed to HMRC. Is it because that amount is owed to the employee?

  • @BookkeepingMaster

    @BookkeepingMaster

    2 жыл бұрын

    Correct. Thanks for watching.

  • @KatsC100
    @KatsC1004 жыл бұрын

    Is this something you’ll do in an accounting software?

  • @BookkeepingMaster

    @BookkeepingMaster

    4 жыл бұрын

    Not so much accounting software but payroll software. Some accounting software does have payroll software built-in though. Thanks for watching.

  • @sunflower9872
    @sunflower98724 жыл бұрын

    how to divide the month for payroll by 4 or 4.5?

  • @BookkeepingMaster

    @BookkeepingMaster

    3 жыл бұрын

    Why would you like to do that? Thanks for watching.

  • @lucynakaniecka8549
    @lucynakaniecka85493 жыл бұрын

    thanks :--)

  • @BookkeepingMaster

    @BookkeepingMaster

    3 жыл бұрын

    You're welcome! Thanks for watching.

  • @sunflower9872
    @sunflower98724 жыл бұрын

    Do you also teach QuickBooks?

  • @BookkeepingMaster

    @BookkeepingMaster

    3 жыл бұрын

    Yes. Full details are on my website.

  • @thehaffytaffy
    @thehaffytaffy5 жыл бұрын

    wheres the payroll series? it's only one video

  • @BookkeepingMaster

    @BookkeepingMaster

    5 жыл бұрын

    They are on my to-do list, please check back in the near future. Thanks for watching.

  • @Chimp_No_1
    @Chimp_No_15 жыл бұрын

    Very helpful indeed ! Thanks.

  • @BookkeepingMaster

    @BookkeepingMaster

    5 жыл бұрын

    No problem. Thanks for watching.