Accounting by Computer
Sage Accounting and Payroll

December 2017 Newsletter

If you are now on a Monthly Subscription you automatically qualify for the 2018 version of your Sage 50 Accounts.

Main features of the Sage 50 Accounts Version 2018 (v24):

Direct Debit Payment from your Customers:

  • This was previously not a facility available to small businesses.  It is included, at no extra cost, in your Sage 50 Accounts version 2018 (v24) program.
  • You can set up Direct Debits from your Customers so that, when you send an invoice, you will automatically get paid on an agreed date (just like you do with, e.g. your mobile phone bill).
  • The transaction cost is 1%, with a minimum charge of 20p and a maximum of £2.00.
  • This facility is safe and controllable from both the Customer’s and your point of view. This facility is linked to “GoCardless” a reputable software supplier with links to all UK banks.  If you have an existing account with them, you can use that linked to your Sage 50 accounts.

Bank Feeds:

  • There are improvements to the facility for those who download data from their banks.

Hiding Records:

  • This highly successful facility, which was previously only available for Customer, Supplier and Stock Records, is now available for the Bank and Nominal modules.

HMRC Gateway Changes:

  • HMRC have confirmed that Digital Filing of Tax has been deferred until April 2019.
  • Sage have notified their Users that there will be a change to the way VAT Returns will be filed on line with HMRC from 14th February 2018.
  • Sage have stated that only 50 Accounts version 2018 (v24) will be suitable for this change.  Sage have also said that the new service will be available from 1st August 2017, but I have yet to experience this change.
  • I am still trying to establish the implications for clients using earlier versions;  I will notify the affected clients as soon as I have finite information.
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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

v2018 –

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

v2016 –

v2015 – (after loading Service Pack 8)

v2014 – (after loading Update 3 and Service Pack 1) Support on this version was withdrawn on 30th April 2017.

v2013 – (after loading Update 2 and Service Pack 1) Support on this version was withdrawn on 30th April 2016.

v2012 – Support  on this version was withdrawn on 30th April 2016.

Instant  Payroll

After installing the latest 2017 Year End Update, the version number is 15.00

50 Payroll

Payrolls now are not updated with a completely new version each year. The last version was AE v2014 which included the Pension Auto Enrolment Module.

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 2016/17 Tax Year End is processed would result a version number seen in Help > About which starts v23.xx.xx; this must be verified.

Accounting By Computer is as easy as ABC

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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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