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VT Transaction+

Navigation: Entering transactions (including opening balances)

Wages and salaries

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VT Transaction+ does not contain a payroll module. However, there are several inexpensive third party products available. At VT Software we use Moneysoft ( and we are very happy with it.

When you have run your payroll, you will need to record it in VT Transaction+. You should enter a journal (JRN button on the main toolbar) with the following entries based on the data from your payroll package:

Debit amount

Credit amount


Gross pay

Expenses: Wages and salaries

Employer’s NI

Expenses: Employers NI

Employer's Pension

Expenses: Pensions


Creditors: PAYE and NI

Employer’s and employees’ NI

Creditors: PAYE and NI

Employer’s and employees’ Pension

Creditors: Pensions

Net pay – employee A

Bank: Current account

Net pay – employee B

Bank: Current account

Net pay – employee C

Bank: Current account


Bank: Current account

If your payroll package can export data, it may be possible to automatically import the above journal by choosing the Transaction>Journal>Import command (or by clicking on the down arrow just to the right of the JRN button on the main toolbar). Payroll packages often do not export data in an entirely suitable format. In this case you could set up a spreadsheet to reformat the data, and then import the spreadsheet. This may be time consuming to set up, but can save time in subsequent months.

The payment to HMRC of PAYE and NI in the month following the payroll month should be analysed to Creditors: PAYE and NI.