Sage 50cloud Payroll

How to process opt out Pension requests

An employee who becomes an active member of a pension scheme under automatic enrolment can only opt out during the opt out period.

Sage 50cloud Accounts

How to Record Corporation Tax

Corporation tax is a tax on the profits of your limited company, paid to HM Revenue & Customs (HMRC).
Sage 50cloud Accounts has a specific area for Taxation in its chart of accounts.

Sage 50cloud Accounts

How to check for duplicated transactions in your data

To help make sure your accounts are correct, you can use the accounts audit option to quickly check for duplicate transactions.

Sage 50cloud Payroll

Correcting a previous payroll run

Mistakes can happen or information arrives late after the payroll has been processed don’t worry in Sage 50cloud Payroll it’s easy to go back and correct things.

If you need to go back and correct a previous payroll run, the Rollback option can be used to make amendments that affect some or all your employees.

Sage 50cloud Accounts

Preparing your EU VAT Return for One Stop Shop (OSS) and Import One Stop Shop (IOSS) – UK

The way VAT is handled for online sales from business worldwide to consumers B2C in the European Union (EU) changed on 1^st July 2021,

Sage 50cloud Accounts

E-commerce VAT in the EU has changed from 1^st July 2021

The way VAT is handled for online sales from business worldwide to consumers B2C in the European Union (EU) changed on 1^st July 2021, instead of registering and paying VAT in each country you sell to, you can choose to report and pay all EU VAT through a single return using.

Sage 50cloud Payroll

Sending submissions to HMRC

Every time you process your payroll, your need to submit information to HMRC.

Sage 50cloud Accounts

How to check your audit trail for possible duplicate transactions

It is a good idea every so often to check your data for possible duplicated transaction.

Accounts

Selecting Multiple Records

Using Sage 50cloud Accounts, there are two different methods of selecting multiple records.

Payroll

Holiday Schemes

You can manage and record the holidays your employees book and have taken within your Sage 50 Payroll.  You can create different holiday schemes for different employees

Accounts and payroll

Nominal link
If you have Sage 50cloud Accounts and Payroll, you can save time when you process your wages, by automatically posting your salary journals to the accounts.

Payroll

Process redundancy pay

To process this you will need to set up a post-tax and NI payment up to the value of £30,000. If the payment is above £30,000 you will also need to set up a payment subject to Class 1A national insurance. 

Payroll

Quick Statutory Maternity Pay (SMP)

You can quickly record SMP and keep track of employee’s maternity leave using the Quick SMP option.

Accounts

Running Reports for previous financial year

If you want to run management reports such as a balance sheet, profit and loss or trial balance report for a previous year

Payroll

Creating a new employee record in Sage 50cloud Payroll.

When someone new starts at your business you will need to set up a new employee record.

Accounts

VAT Changes for Hospitality, accommodation and attractions

To help businesses in the hospitality, holiday accommodation and attractions sectors, the Chancellor has temporary reduced rate of VAT to 5% from the 15 July 2020

Payroll

Reprinting a payslip from a previous period

It is quick and easy to reprint payslips.

Accounts

Making lists easier to work with

To make things easier when you’re working with large lists of records or transactions in Sage 50 Accounts, you can add alternative row colours

The Coronavirus SSP Rebate Scheme

The Coronavirus SSP Rebate Scheme will repay Statutory sick pay (SSP) to you for any current or former employee that you have paid SSP on or after 13^th March 2020.

Accounting for Job Retention Scheme Income

Under the Coronavirus Job Retention Scheme, all UK employers can access support to continue paying part of their employee’s salary for those employees who would otherwise be laid off during this crisis.