Accounting by Computer
Sage Accounting and Payroll

Out of Office 11th to 18th June 2019

I am sorry that I am out of my office from Tuesday 11th June to Tuesday 18th June inclusive.

Since I will be out of the UK I may possibly not get emails or mobile phone signals.

I will respond to your e-mails or messages as soon as possible on my return.

I apologise for any inconvenience.

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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 – 25.1.128.0   (after loading 25.1 Update 19 Apr 19 )

v2018 – 24.2.228.0 (after loading Update 2)

The following versions will not be compatible with Making Tax Digital:

v2017 – 23.2.4.279  (after loading the May 2017 Improvements Update and Service Pack 3)

v2016 – 22.1.10.394

50 Payroll

Payrolls are updated with a completely new version each Tax Year End.  For the New Tax Year 2019/20 version 25.01.181 is applicable. 

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.

Accounting By Computer is as easy as ABC

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March 2019 Newsletter

  1. Payroll Year End.
    1. Can I remind those who need a small supply of P60 forms from me, and have not yet ordered, that the deadline is next Tuesday, 5th
    2. The Year End Payroll program is now available from Sage on the link which appears on the panel when you sign into the Payroll. As usual I would recommend “Downloading” the program to your computer and then installing it.  Do not try to run it over the internet.
    3. For those clients who like me to assist with the Payroll Year End, the slots are fast disappearing, so get in touch.
  2. Making Tax Digital
    1. There is a very simple guide to registering for MTD on the following HMRC link

https://www.youtube.com/watch?v=kOKD4kHvlzI

  1. You do not need to register until you are ready to file your first VAT Return which starts in a Quarter which commences after 1st April 2019.

 

If you are in doubt about any of these matters, please get in touch.

 

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February 2019 Newsletter

  1. Payroll Year End – 5th April 2019
  2. The deadline for submitting the Year End data is 19 April.  You will be submitting your FPS (Final Payroll Summary) through your payroll system on the last payroll run.   If you have to make any amendments use the EPS.
  3. This is also the date for the last payment of Tax and National Insurance for the 2018/19 Tax Year.
  4. Sage say that the Payroll Year End pack will be available for download in mid March.
  5. Many clients like me to assist with Payroll Year Ends. In view of the short time ahead, book early if you haven’t already.
  6. P60s will still be issued to employees and this must be done by 31 May. As usual I will supplying P60 forms in small quantities of 10 forms for £9.00 + VAT.  Orders to me by Tuesday 5 March latest.
  7. P11d Returns must be submitted for Expenses/Benefits by 6 July.
  8. Payment of Class 1A NI on Benefits must be made by 19 July or 22 July if you pay by BACS

 

2.Employment Allowance

This is remains at £3,000 for the new year.  Don’t forget tick the box in Company>Settings and to post a Journal each month/week to Debit the PAYE/NI Control and Credit Employer’s NI with the amount recovered as shown on the P32 report you print in the Payroll.   See the separate Post on the website.

 

  1. Making Tax Digital (MTD)
  2. This only applies to VAT Registered businesses with over £85k turnover.
  3. Sage Accounts 2018 (v24) or later must be used.
  4. The HMRC VAT Registration has to be changed after the last VAT Return for quarters ended up to 31 March have been filed. Due this online.
  5. When the new Codes have been received from HMRC they should be changed in Settings>Company Preferences>VAT>esubmission Credentials. DO NOT DO THIS UNTIL AFTER YOU HAVE FILED YOUR LAST VAT RETURN FOR QUARTERS ENDING UP TO 31 MARCH.
  6. Then continue to file your VAT Returns as normal.

 

  1. Check Data and Backups.

I keep banging on about this subject, BUT STILL I have clients who have ignored Errors found in Check Data and continued to process or who have not been able to find backups (including separate Reports, Layouts and Archives) when they have had an issue.   This has resulted in them having to reprocess work, in some cases for several months.

 

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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:

  1. At the beginning of the new Tax Year select Company > Settings > tick the box on the right “Eligible for Employment Allowance”.
  2. 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.

  1. 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.)
  2. 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.
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