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Accounting Guru

How to do the payroll entries in the general journal

SOLVED
Posted By

As I only have one employee and do not wish to purchase the payroll portion does anyone know how to do the payroll entries in the general journal

I had someone give me the link to how to do payroll through the general journal but lost the link.  Does anyone know how to do payroll entries using the general journal

Top Replies

  • 0
    Since it looks like you are using Sage 50 Canada, I am going to move your post to that Support Group since it was posted in the incorrect forum.

    Thanks,
    Derek
  • 0 in reply to Derek Vink
    Making this as simple as possible as you have only one employee:
    Debit Wages/Salary for the gross amount of the pay
    Debit CPP employer expense
    Debit EI Employer expense
    Credit CPP Payable for both the employer and employee amounts
    Credit EI Payable for both the employer and employee amounts
    Credit Inc Tax Payable for the employee taxes (Federal and Provincial)
    Credit Bank for Net Pay (cheque amount)
    If you use the CRA's Payroll Deductions Online Calculator (PDOC) all of these figures are provided. This can be found on the CRA website on the Business Tab.
  • 0 in reply to Alwyn
    and if you set up the employee as a supplier, you can create a purchase invoice with Alwyn's accounts (credits are negative)
    and you can save it as a recurring transaction to use again next pay period - just change the amounts
    and you can pay the invoice to produce a paycheque
  • +1
    verified answer

    Hi all, adding a link to the article titled "How to manually process payroll using the General Journal." Pasted the details below:

    Resolution

    For processing payroll without a payroll or support plan, the entries can be entered manually via the General Journal screen in the Company module.

    1. From the main screen of Sage 50, click on Company
    2. Open General journal
    3. Enter a Source
    4. Select the date
    5. Enter a Comment (if desired as it's not mandatory)
    6. Entry will look as below: (Note: Accounts will vary depending on individual setup)

    Note:

    • You will need to unlink any payroll accounts to post to them directly if they are still linked. To unlink accounts, go to Setup-Settings-Payroll-Linked Accounts and remove the accounts that you need to post to from there.
    • Make sure to backup your data before unlinking accounts

    Additional information

    If you start using a support plan/payroll plan and wish to do automatic payroll you will need to relink payroll accounts in setup-settings-payroll-linked accounts

*Community Hub is the new name for Sage City