Sage Accounting and Payroll
Out of Office 13th to 17th September
I am sorry that I am out of my office from Monday 13th to Friday 17th September inclusive.
I will respond to your e-mails or messages on my return.
In the event of any real emergency you could try my mobile 07836 595538 since I will be in the UK.
I apologise for any inconvenience.
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
v2021 – 27.2.664 (19 Jul 21) the latest update.
50 Payroll
Payrolls are updated with a completely new version each Tax Year End.
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.
After loading the Update for the 2020/21 Year the version becomes 27.01.172.
Accounting By Computer is as easy as ABC
Employer’s Allowance for National Insurance
How to process the Employer’s Allowance for National Insurance.
This is £4,000 for the 2020/21 Tax Year. But there are certain changes to the rules, you need to apply again, see below for change of procedure.
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 £4,000 has been recovered.
In the Payroll:
- In Company > Settings > there is a new button (bottom left) “Apply for EA”. You cannot take the deduction until HMRC have confirmed.
- 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.