Payroll – Processing week 53

Payroll – Processing week 53

Mar 18, 2019

If you pay your employees weekly, fortnightly or four weekly and your normal process date falls on Friday 5th April, then you have an extra pay run, commonly known as week 53. If you pay your staff monthly, then you will not have an extra pay run. The number of days in the tax year does not divide into a whole number of week, so 5th April becomes week 53.

If you do have a week 53, there is nothing that you need to do differently. Simply complete you payroll in the normal way dated 05/04/2019 before you process your payroll year end.

To check if you have a week 53
In the 2018/2019 tax year, tax week 53 is Friday 5th April 2019. You have a week 53 if the following applies:
Your normal pay day is a Friday and…
• You last process your weekly paid employees on Friday 29th March 2019.
• You last process your fortnightly paid employees on Friday 22nd March 2019.
• You last process your four weekly paid employees on Friday 8th March 2019.
In each of these instances, you are next due to process the employees on the 5th April 2019, week 53.
These are the only scenarios when you must process a week 53, the next processing date for all other pay dates falls into the 2019/2020 tax year.

How tax and national insurance (NI) calculates at week 53
At week 53, tax calculates using week 1/ month 1 allowance. NI is calculated as in any other period, using the weekly, two weekly or four weekly thresholds as appropriate.

Sage 50 Accounts – Missing Transaction on VAT Return

Mar 18, 2019

Sage have identified a small issue with the VAT return. If you run your VAT return up to the period ended March 2019, the transactions for 31st March are not appearing.

To make sure your calculations are correct when submitting your VAT return, you can download and install an update or follow the manual workaround.

If your VAT return is due to end 31st March 2019, to ensure your VAT return is correct, Sage recommend you download and install the latest update for your software version. The update(s) must be installed on all computers that have Sage installed including the computer that holds you data and any computers that access your data using Sage Drive.
To check your Current Version go to Help then About and make a note of your version number.
v25.0 – Download and install v25.1
v24.2 – Download and install v24.3
v24.0 or v24.1 – Download and install the following 2 updates in this order
Download Sage 50 Accounts v24.2
Download Sage 50 Accounts v24.3
V23.2 – Download Sage 50 Accounts v23.3

Correct the date range
As an alternative to installing the update, when you run your VAT return for the period ending March 2019, you can manually correct the date rang:
1. Click Use custom date range, then click Use whole months.
This changes the VAT period end date to 31st March 2019.

Sage 50cloud Accounting V25

Nov 15, 2018

Sage 50cloud Accounting V25 is just being released at the moment and comes with a host of new and improved features such as: 

– The ability to reverse bank reconciliation

– Check data and back up with other users still logged in.

– Improvements to Sage Capture approvals, you can review transactions you post via Sage Capture

New in Sage 50 Accounts v24.2

Aug 16, 2018

There are many improvements in Sage 50 Accounts V24.2 to help you save time and money:-

Corrections on the fly – It is now easier and quicker to do corrections by editing transactions direct from activity windows.

Restore backups direct from OneDrive – With Sage 50 cloud Accounts, it is easy to restore scheduled backups from OneDrive when integrated with Office 365.

Help with GDPR – V24.2 now has additional reports to help you with the General Data Protection Regulation (GDPR).

Faster online payments – with Sage Invoice Payments customers can now pay by card using Strip and PayPal.  Transactions are automatically posted to Sage 50 Accounts saving you time.

Post bank charges fast – add bank charges when posting supplier payments and customer receipts, no having to do a separate posting, saving time.

Improvements to Sage Drive – Company list now shows if you are at a main site or remote site and clearer messaging when your main site is offline.

Direct Debit improvements – Retry failed payments from within Sage 50 accounts.  The ability to create a generic Direct Debit mandate request link that is not specific to an individual customer, making it easier for customers to set up Direct Debits with you.

New in Sage 50 Payroll v24.01.103

Aug 14, 2018

There are many improvements in Sage 50 Payroll V24.01.103 to help you save time and money:-

Dummy FPS – You can now perform a dummy full payment submission (FPS). This means the submission won’t go to HMRC but it will correct the last FPS date in the software.

Clear nominal link posting history – There may be times when you need to clear your nominal link posting history. For example, if you have to restore a backup in the Sage Accounts and you need to repost your salary journals using the Nominal link.

Personal Data Management Tool – To check what personal data you have for your employees, you can use the Standard Retrieval, AdHoc Retrieval and Data Check options in the Personal Data Management Tool.

New tax year legislation – The Sage 50 Payroll update includes all the relevant legislation changes for the 2018/2019 tax year.

Online P60s  – There is now the option at the Payroll year end to upload Online P60s in the same way as the Online Payslips service.

Automatic enrolment phasing  – the minimum contributions you and your employees pay into your pension scheme has increased in April 2018. If you have the Sage 50 Payroll with the Pension Module, this now includes the new rates for 2018/19 and 2019/2020 tax years.

Consent received – As the Emergency Contacts option in the employee record, holds details of another individual, a consent received check box has been added. This is to confirm you have obtained consent to hold their information in the payroll software.

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