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 – 25.1.128.0 (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
March 2019 Newsletter
- Payroll Year End.
- 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
- 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.
- For those clients who like me to assist with the Payroll Year End, the slots are fast disappearing, so get in touch.
- Making Tax Digital
- There is a very simple guide to registering for MTD on the following HMRC link
https://www.youtube.com/watch?v=kOKD4kHvlzI
- 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.
February 2019 Newsletter
- Payroll Year End – 5th April 2019
- 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.
- This is also the date for the last payment of Tax and National Insurance for the 2018/19 Tax Year.
- Sage say that the Payroll Year End pack will be available for download in mid March.
- Many clients like me to assist with Payroll Year Ends. In view of the short time ahead, book early if you haven’t already.
- 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.
- P11d Returns must be submitted for Expenses/Benefits by 6 July.
- 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.
- Making Tax Digital (MTD)
- This only applies to VAT Registered businesses with over £85k turnover.
- Sage Accounts 2018 (v24) or later must be used.
- 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.
- 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.
- Then continue to file your VAT Returns as normal.
- 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.
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.