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.
Create a bookkeeping spreadsheet using Microsoft Excel
• Create a Bookkeeping S...
Support this Channel www.paypal.com/cgi-bin/webscr...
30 Free Day Trial on KashFlow Accounting Software www.kashflow.com/?code=AFF2105084
Free Bookkeeping and Accounting Course
• Free Online Bookkeepin...
Learn more at www.freebookkeepingaccounting.com
Пікірлер: 126
Thank you. A lot of accountants are very protective about their knowledge, this explains it more clearly than any accountant I work with.
@BookkeepingMaster
6 жыл бұрын
Great! I am glad the video helped. Thanks for watching.
Makes it much easier to follow than diving straight into a book thank you so much
@BookkeepingMaster
Жыл бұрын
Thanks
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
4 жыл бұрын
No problem. Thanks for watching. Much love from the UK!
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
2 жыл бұрын
I'm so glad that my content helped! Thanks so much for the comment
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
4 жыл бұрын
Glad it was helpful! Thanks for watching.
Best Analysis of the Payroll Journal...
@BookkeepingMaster
Жыл бұрын
Thank you so much for your kind words and for watching
Thank you so much, your tutorials have been very useful and easy to understand. The PEARLS thing is such a useful tool.
@BookkeepingMaster
4 жыл бұрын
No problem. Thanks for watching.
Thanks I think this is really helpful and educational. your explanation is really great for an aspiring trainee payroll officer.
@BookkeepingMaster
5 жыл бұрын
Thanks a lot. Your kind words are much appreciated.
Thanks for sharing this in a very simplified way.! Really helpful.
@BookkeepingMaster
2 жыл бұрын
I am so glad you liked it! Thanks for watching.
Thank you for taking out of ur time and making these videos ...
@BookkeepingMaster
6 жыл бұрын
No problem. Thanks for watching.
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
Жыл бұрын
Glad it was helpful! Thanks for watching
You are excellent, I appreciate it. Thank you very much.
@BookkeepingMaster
7 жыл бұрын
Thank you
Thank you for making it clear. I was so confused about this.
@BookkeepingMaster
Жыл бұрын
You're welcome! Thank you for watching and for the comment
Thanks, this video made things more clear.
@BookkeepingMaster
5 жыл бұрын
No problem. Thank you for watching. Please check my website for more free accounting courses and tutorials.
Super helpful, thank you!
@BookkeepingMaster
3 ай бұрын
Thanks so much!
Thank you very much! Amazing explanation and tutorial and the best theacher!
@BookkeepingMaster
Жыл бұрын
I'm glad you think so! Thanks for watching
Thanking You BookkeepingMaster much appreciated.
@BookkeepingMaster
4 жыл бұрын
Thanks
It really did make sense after 2 watches :) Thanks
@BookkeepingMaster
7 ай бұрын
No problem. Thanks so much for watching
This has been really helpful. Thanks so much!!!👌🏽👌🏽👌🏽
@BookkeepingMaster
2 жыл бұрын
Glad it was helpful! Thanks for watching
accounting is soo useful i am going to major in it
This video is very helpful & thanks for sharing your knowledge
@BookkeepingMaster
4 жыл бұрын
No problem. I am glad that the video was helpful.
Thanks for sharing, very simple and understanding
@BookkeepingMaster
2 жыл бұрын
Glad you liked it. Thanks for watching
Thank you . Very informative and helpful.
@BookkeepingMaster
2 жыл бұрын
Glad it was helpful! Thanks for the comment
Great work .Thank you sir
@BookkeepingMaster
4 ай бұрын
So nice of you. Thanks for watching
That was a awesome helpful video... thank you.. :D
@BookkeepingMaster
7 жыл бұрын
No problem. Thanks for watching.
Thank you for this, i'm very grateful.
@BookkeepingMaster
Жыл бұрын
No worries! Thanks for watching
Great video, Thanks!!
@BookkeepingMaster
7 жыл бұрын
No problem. Thanks for watching.
Very informative thank you!!
@BookkeepingMaster
6 жыл бұрын
No problem. Thanks for watching.
Thanks so much for this help
@BookkeepingMaster
5 ай бұрын
Happy to help
A very good video, thanks!
@BookkeepingMaster
3 жыл бұрын
Glad you liked it! Thanks for watching.
Thank you so much
Very clear and helpful.
@BookkeepingMaster
4 жыл бұрын
Thanks
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
5 жыл бұрын
It depends on the course! I am glad my content has been useful. Thanks for watching.
Very clear and useful video thank you
@BookkeepingMaster
7 жыл бұрын
No problem. Thanks for watching.
@Abdulrahman65440
2 жыл бұрын
thanks
Thank you. Very helpful
@BookkeepingMaster
5 жыл бұрын
No problem. Thanks for watching.
beautifully well explained. thanks!
@BookkeepingMaster
11 ай бұрын
Thanks
excellent tutorial xx
@BookkeepingMaster
3 жыл бұрын
Thanks so much 😊
I acc find the pearls thing useful. Hopefully useful for my synoptic tomorrow! Wish me luck xD
@BookkeepingMaster
6 жыл бұрын
I hope it went well!
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
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.
Thank you Lwandile from south africa
@BookkeepingMaster
3 жыл бұрын
Thanks for watching
Thank you! Very useful video!
@BookkeepingMaster
6 жыл бұрын
No problem. Thank you for watching.
Very helpful. Thank you 😁😁😁
@BookkeepingMaster
3 жыл бұрын
You're welcome 😊 Thanks for watching!
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
3 жыл бұрын
The journals covered in the video will post the wages to gross wages expense. I hope this helps.
Thumbs up! Thumbs up👍🏾
@BookkeepingMaster
5 жыл бұрын
Thank a lot
Thanks Very helpful
@BookkeepingMaster
4 жыл бұрын
No problem. Thanks for watching.
Could you suggest a good software payroll program?? Many thanks for sharing your knowledge, your videos are clear to understand and extremely helpful!!
@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
THANK YOU!!!!
@BookkeepingMaster
4 жыл бұрын
No, thank you!!!!
thank you :)
@BookkeepingMaster
6 жыл бұрын
No problem. Love the profile pic. Thanks for watching.
great job
@BookkeepingMaster
2 жыл бұрын
Thanks for watching
Great....
@BookkeepingMaster
Жыл бұрын
Thanks
good tutorial
@BookkeepingMaster
5 жыл бұрын
Thanks
Thank you
@BookkeepingMaster
7 жыл бұрын
No problem. Thanks for watching.
Do you have a tutorial that covers entry of the Employment Allowance via a journal?
@BookkeepingMaster
2 жыл бұрын
Sorry, I don't. Thanks for watching.
Hi. I am starting from scratch here...looking for a job in payroll....would this all be done on Sage?
@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.
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
4 жыл бұрын
Thanks for the comment and for watching.
Great video thanks. So are you Acca or CIMA qualified
@BookkeepingMaster
3 ай бұрын
Thanks for watching.
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
2 жыл бұрын
Correct. Thanks for watching.
Is this something you’ll do in an accounting software?
@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.
how to divide the month for payroll by 4 or 4.5?
@BookkeepingMaster
3 жыл бұрын
Why would you like to do that? Thanks for watching.
thanks :--)
@BookkeepingMaster
3 жыл бұрын
You're welcome! Thanks for watching.
Do you also teach QuickBooks?
@BookkeepingMaster
3 жыл бұрын
Yes. Full details are on my website.
wheres the payroll series? it's only one video
@BookkeepingMaster
5 жыл бұрын
They are on my to-do list, please check back in the near future. Thanks for watching.
Very helpful indeed ! Thanks.
@BookkeepingMaster
5 жыл бұрын
No problem. Thanks for watching.