Sage Accounting and Payroll
Are you on the latest version of 50 Accounts and Payroll?
Are you on the latest version of Sage 50 Accounts?
To ensure that you are benefitting from the latest Updates, go to Help > About > on your system and check that you have one of the following. If you have a Network version, all users must be on the same version:
50 Accounts and Instant Accounts
v2019 – 25.0.76.0 (after loading Update )
v2018 – 24.2.228.0 (after loading Update 2)
v2017 – 23.2.4.279 (after loading the May 2017 Improvements Update and Service Pack 3)
v2016 – 22.1.10.394
v2015 – 21.5.9.201 (after loading Service Pack 8) Support for this pack was withdrawn on 30th April 2018, the program will go “End of Life” on 1st March 2019.
Instant Payroll
After installing the latest 2017/18 Year End Update, the version number is 15.00
50 Payroll
Payrolls now are not updated with a completely new version each year.
Each year there is the Update which will include the Tax Tables for the New Tax Year as well as the Year End function for the current tax year.
The Update to be installed before the 2017/18 Tax Year End is processed would result a version number seen in Help > About which starts v24.xx.xx; this must be verified.
Accounting By Computer is as easy as ABC
October 2018 Newsletter
1. Sage 50 Accounts v25.
The new version of Sage 50 Accounts has now been released, here are the major features:
Ø The ability to “Check Data” and take “Backups” without having to ask other users to leave the system.
Ø Straight into “Backup”, the “Check Data” is later in the procedure.
Ø More clarity as why a “Restore” may have failed.
Ø Selection of various “Backups”, e.g. Data only, etc. is easier.
Ø Bank Reconciliations can be reversed.
Ø There is a new field in Transactions showing on which Bank Reconciliation the item was matched.
Ø More detail in the Licence Information (in Help> About) showing if you have a Subscription.
Ø Mobile Sales and Tracker Apps will no longer work in v25. They will still work in v24 and below.
Ø Automatic Update settings.
Ø Improvements to the Manager’s ability to change User profiles.
Ø Transaction email is disabled by default; it can be turned back on if still used.
2. Sage 50 Accounts for Subscription Users.
You automatically have the right – and are paying for – an Upgrade to v25. I would strongly recommend that you do not try to Upgrade the program over the Internet. Save the program to your Downloads and then run it from there.
3.Backups – System Crashes.
Clients wonder why I am constantly nagging about taking adequate Backups and having the ability to use them. Clients have system crashes – I have just had another client who had a nasty experience. His system crashed very seriously; fortunately, the lady who processes his accounts had separate, very current, Sage backups for “Data Only” and “Reports and Layouts Only” The Sage system was up and running on a new computer very quickly. Unfortunately, she did not have an “Archives Only” backup. They also did not have Backups of other Applications, e.g. Office programs. A Data Recovery company, expensively, is currently trying to recover the lost data from the old hard drive.
4.Making Tax Digital.
The new HMRC filing requirements will come into force from 6th April next year. It affects you if you are VAT registered. Only Sage Accounts from v24 are compatible.
5. Spam Sage Invoices.
There are currently spam invoices circulating on the Internet; they look like messages from Sage with an invoice attached – look carefully at the sender’s email address.
Have a very Happy Christmas and a Prosperous New Year.
Employer’s Allowance for National Insurance
How to process the Employer’s Allowance for National Insurance.
This remains at £3,000 for the 2017/18 Tax Year.
The reduction in the NI you pay is reclaimed over the first few months depending on the amount of Employer’s NI you pay each month. It is deducted each month until the total of £3,000 has been recovered.
In the Payroll:
- At the beginning of the new Tax Year select Company > Settings > tick the box on the right “Eligible for Employment Allowance”.
- As usual print the monthly P32 Employer Payment Record which shows the Tax & NI payable for the month and the Employer’s Allowance.
In the Accounts:
There is no automatic inclusion of the Employer’s Allowance in the Nominal link, so it has to be processed manually.
- Select Nominal > Journal. Create a new Memorised Journal to Debit the PAYE/NI Control Account in the Balance Sheet and Credit the Employer’s NI account(s) in the Profit & Loss Account. (Note – if you have more than one you may have to calculate an approximate percentage to each account.)
- From the P32 Payment Record report extract the Employer’s Allowance and enter it the Memorised Journal that you have created each month until the Allowance has been totally used.