Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie
Hi there,
There is an issue with role permissions that is being worked on at the moment.
If you are having trouble with access or permissions on regional forums please post here to get access: https://www.boards.ie/discussion/2058365403/you-do-not-have-permission-for-that#latest

BIK journal entry

  • 31-08-2011 12:22pm
    #1
    hockeygirl
    Registered Users, Registered Users 2 Posts: 166 ✭✭


    Hi
    Can someone please help me
    How do you account for BIK in the accounts?
    What is the double entry.

    Dr Gross Salary
    Dr Emp PRSI
    Cr PAYE/PRSI
    Cr USC
    CR Net Wages

    the balance im left with would be a cr BIK??


Comments

  • #2
    kennyb3
    Registered Users, Registered Users 2 Posts: 6,724 ✭✭✭kennyb3


    No it wouldnt, the gross wages should be the gross before BIK (i.e. BIK doesnt end up in the P & L).

    Think about it another way - you only include the BIK on your software to get the paye, prsi, usc on same.

    The paye,prsi and usc on same reduces the net wage by the exact same amount


  • #3
    hockeygirl
    Registered Users, Registered Users 2 Posts: 166 ✭✭hockeygirl


    kennyb3 wrote: »
    No it wouldnt, the gross wages should be the gross before BIK (i.e. BIK doesnt end up in the P & L).

    Think about it another way - you only include the BIK on your software to get the paye, prsi, usc on same.

    The paye,prsi and usc on same reduces the net wage by the exact same amount

    in all my time of doing audit work or payroll would you believe I have never encountered BIK :)


  • #4
    kennyb3
    Registered Users, Registered Users 2 Posts: 6,724 ✭✭✭kennyb3


    hockeygirl wrote: »
    in all my time of doing audit work or payroll would you believe I have never encountered BIK :)
    Its a pain in the a'ss and takes a while to get the head around


Advertisement