Paying your employees
Paying your employees
Payroll is only available in AccountEdge Plus.
You can use your software to process pays for wages and salary. The software can calculate overtime rates, allowances, union fees and other deductions, employer expenses and entitlements such as holiday leave and sick leave, union fees, along with tax deductions.
In AccountEdge software, the components of an employee’s pay, such as wages, entitlements and taxes, are called payroll categories. These are assigned to an employee’s card to create the employee’s recurring paycheque. When you record a paycheque, you can vary an employee’s pay by overriding the recurring paycheque values with the actual number of hours worked and the number of hours of holiday leave taken.
Some payroll categories (deductions, expenses and taxes) determine what are known as payroll liabilities. These are amounts withheld for later payment to the appropriate authority or agency.
Each time you pay your employees, be it weekly, fortnightly, 4 weekly or monthly, you can submit Real Time Information online to HMRC via Full Payment Submissions (FPS) and Employer Payment Summaries (EPS).
At year-end, you can print P60 forms for your employees to use at tax time and make final FPS and EPS submissions for year end purposes.
If after you have closed your payroll year, you notice an error in the submission of FPS or the EPS you can adjust the amounts by using the Earlier Year Update (EYU) to submit the adjustments.
If you are concerned about employee privacy, you can use the security features to restrict access to this and other areas of your software.
In this section
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Payroll setup tasks
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Creating payroll categories
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Creating employee cards
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Entering employee payroll information
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Timesheets
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Processing your payroll
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RTI Full Payment Submission
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Employer Payment Summary
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Employment Allowance
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HMRC Compliance changes
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Processing termination payments
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Reviewing payroll information
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Earlier Year Update
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