Can anyone advise me please on how to deal with a student loan deduction.
We apply our payroll costs to Sage accounts via a journal and I am £9 up on the DR
side and £9 down on the CR side (which is the student loan amount).
Should I add £9 to the nominal code 2210 on the CR side so it balances, and then when I pay the
HMRC the payment goes to code 2210, or should I set up a new nominal code for the student loan to go to.
Sorry unsure whats the correct way to deal with it.