Payroll Year End Checklist

Transcription

1 1 P a g e Payroll Year End Checklist Please make sure BEFORE you start Year End that Online Filing Manager is upgraded Take a backup of your data before you start Each company separately! It is very important that you do this before starting your Payroll Year End. Check that the Current Tax Year box in Payroll > Utilities > Set Options is set to 1718 for the tax year. Once you have run the Payroll for the last Pay Period of the year, print any reports needed for the final Pay Period. Send your BACS Payments as normal. Check that Payroll > P32 Processing is up to date and that you have entered your Payments. **NOTE if you have more than one Opera Payroll company, (E.G. separate Weekly and Monthly payrolls, NOT Grouped) and you have the same PAYE Reference for each Payroll you must consolidate the P32 in the main Payroll. To check this; go into Payroll > Utilities > Set Options on the first tab it tells you P32 Co. Consolidation ID this is the Company you need be in to consolidate your payroll. Select P32 Processing > Action > Consolidate Select EOY/Special Reports > End of Year Returns. Run the EOY/Special Reports > End of Year Returns - to print the P14/P60 s for the entire payroll. Run the EOY/Special Reports > Print P35 Substitute report this report is for internal use only, NOT to be sent to HMRC. Select EOY/Special Reports > Payments/Deductions List and print one for each payroll If required. Print out any other reports needed for the final period in the tax year.

2 2 P a g e Sending Year End to HMRC Go into Payroll RTI Submissions select Full Payment Submission and create the FPS file as normal. Then send the FPS to HMRC. Please check that you have upgraded Online Filing Manager BEFORE you send the FPS. An installation guide is available either on the CD or on our website. Once you have sent the required FPS files to HMRC you must now send the EPS Final Employer Payment Summary (even if recoverable amounts or CIS deductions don t apply) To create your Year End file for HMRC. Select RTI Submissions Employer Payment Summary First Page: From the EPS Type list select: Final EPS of the Year Update the remaining boxes as normal Second Page: Make sure the Up to Tax Month list is set to Period 12 Verify your recoverable amounts, CIS Deductions and NICs that were calculated in Opera. If these amounts are not relevant to you leave the values as zero. Run the Utilities > N/L Analysis and Cashbook Transfer command (if in use) if you have not already done so. Take a backup of the Opera data files. Now run a Payroll Update for all companies / groups. Once you have completed the steps above, you can now run the Year End Cleardown

3 3 P a g e YEAR END CLEARDOWN You MUST make sure you run the year end cleardown before processing the next payroll run. This routine clears all To-Date figures ready for the new tax year. Make sure you have run your Payroll Update. Go into Payroll Utilities and check that the Pay Period is 1. Select EOY/Special Reports Run the End of Year Cleardown for each Group and Company. When you run this option, it will warn you that it will increase the current tax year to 18/19. If it DOES NOT SAY THIS Call the Profile SystemCare Helpdesk IMMEDIATELY DO NOT CONTINUE. All balances shown in the list are non-statutory Click the ones you want to clear or press F5 for all then click OK. You have now completed your Payroll Year End.

4 4 P a g e Final Steps Final Steps Go into Payroll > Utilities select PAYE/NI/Stat Tables and check that your tables look like the ones below. If your tables do not look like the ones above, select Copy Statutory Rates from the Utilities Menu. The system default is always set to the latest available rates for employers and employees in the United Kingdom. Tip: Always use the Set to System Default option to update the statutory rates in the company. These rates are updated by Pegasus Software and supplied with Opera. If you have Weekly, Two Weekly or Four Weekly payrolls set up, please ensure that the P32 by Income Tax Month option on the Payroll Utilities Set Options Options Page 1 - form is ticked.

5 5 P a g e Reviewing Employee Records 1) Tax Code Changes Update Tax Code changes using Payroll > Global changes > Tax Code Changes: Add 35 to any tax code ending in L, for example 1150L becomes 1185L Add 39 to any tax code ending in M Add 31 to any tax code ending in N Scottish Tax Code changes are yet to be announced. Then make the manual changes as per your P9 notifications 2) If new employees start work at the beginning of the tax year they must be set up before processing the first payroll. 3) Company Directors will require changes to be made to the ADV box on the Payroll Processing screen to take advantage of special NI processing. You MUST change this BEFORE you process your first payroll. It CANNOT be changed after the first payroll update has been run. 4) From 6 th April 2018 Automatic Enrolment Pension contributions will increase to 5%, made up of 2% Employer and 3% Employee. Instructions are available in the Pegasus Checklist Guide.

6 6 P a g e Summary of Legislation changes Auto Enrolment contribution increases - under automatic enrolment, minimum pension contributions are required to increase on defined dates over time. National Minimum and Living wage - new warnings and a report to assist with compliance. Increase in State Pension Age - by October 2020, the state pension age for both men and women will reach 66. New option to always round up pension contributions - some pension providers require that contributions are always rounded up to the nearest pence. Real Time Information (RTI) - changes for the new Government Gateway and RTI submissions. Relaxing of data validation rules - relaxing data recording rules in the Personnel application and customer and supplier deletion in the ledgers. PAYE, NI and statutory payments - The rates, bandwidths and thresholds have been updated per the changes announced in the Autumn Statement and the Scottish Budget. Auto enrolment thresholds - these have been updated per the changes announced by The Pensions Regulator. Electronic P60 formats - these have been updated and approved by HMRC. The Personnel Benefits form in the Personnel application has been changed to match minor changes to labels on the P11D introduced by HMRC. Please make sure you read the Legislation and Product Changes guide which covers each change in detail. This is the end of the Payroll Processing Guide. Other Pegasus Guides Please log on to our Website at or these links will take you directly to the Payroll section, where all detailed and summary guides are available for download. Please remember, if you experience any difficulties, errors or you are generally not sure of anything, please call the Profile SystemCare Helpdesk on