Difference between revisions of "How do I close a payroll period?"

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{{Review}}
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== Summary ==
 
== Summary ==
 
The following article explains how to close off a payroll period. This procedure must be followed when you have completed a period and you would like to move into the next one. Please ensure you have run all the necessary reports and printed the payslips before proceeding.
 
The following article explains how to close off a payroll period. This procedure must be followed when you have completed a period and you would like to move into the next one. Please ensure you have run all the necessary reports and printed the payslips before proceeding.
  
 
== Details ==
 
== Details ==
Get into "Payroll" -> "Run Payroll Period".
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Get into {{Menu|{{PR}}|Run Payroll Period}}
 
*Click {{Button|OK}} at the {{DataPrompt|Payroll Selection}} window which opens the period you about to close.
 
*Click {{Button|OK}} at the {{DataPrompt|Payroll Selection}} window which opens the period you about to close.
 
If you run more than one frequency i.e. a Monthly and a Weekly payroll, you must first select the period you would like to close by selecting {{Button|Yes}} alongside the appropriate {{DataPrompt|Payroll Frequency}} e.g. {{DataValue|Monthly}}.
 
If you run more than one frequency i.e. a Monthly and a Weekly payroll, you must first select the period you would like to close by selecting {{Button|Yes}} alongside the appropriate {{DataPrompt|Payroll Frequency}} e.g. {{DataValue|Monthly}}.
 
 
*Make sure you have produced any '''"End of Period"''' reports you need.  
 
*Make sure you have produced any '''"End of Period"''' reports you need.  
 
*Press {{KeyPress|F2}} to "Close Current Period".
 
*Press {{KeyPress|F2}} to "Close Current Period".
*A box will pop up asking you to be sure you wish to close the current period. Click {{Button|Yes}} to proceed with closing the period.  
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*A box will pop up asking you to be sure you wish to close the current period. Click  
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{{Button|Yes}} to proceed with closing the period.  
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=== Additions to Period end Procedure for RTI Submissions ===
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As of '''April 6th 2013''' (after your year end) with the Addition of '''RTI (Realtime) Payroll Submissions''' at this point you will get some new options.
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==== Full Payment Submission (FPS) ====
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Platinum sends these automatically when you click {{Button|Process}} in Run Payroll to process and close off a period.  The confirmation message has an added button {{Button|Test}} that can be used to send a "test-in-live" Full Payment Submission (FPS) without committing the details to the HMRC.
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{{Tip|title=Tip|text=This follows the same process as the Test/Live drop-down in the previous End of Year submissions.}}
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==== Employer Payment Summary (EPS) ====
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Added a new option to {{Menu|{{PR}}|Payroll Procedures/Reports|Monthly Procedures/Reports|Internet Filing of Returns|Submit Employer Payment Summary}}. This is like a cut-down version of the previous End of Year submission process except it should be used after any month for which you need to claim any amounts of SSP/SMP/SAP/etc. to recover.
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{{Note|title=IMPORTANT NOTES FOR THE LAST PAYROLL PERIOD|text=For the final month of the year you should tick the {{DataPrompt|Final submission for the year}} box, which adds the Checklist and Declaration pages from the old End of Year submission screen and replaces that whole process.}}
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{{Tip|title=Tip|text=There is no separate End of Year submission next year.}}
  
This closes the period and moves you into the next one.
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Once all this is done this closes the period and moves you into the next one.
  
 
{{Information|title=Information|text=At this point if you use the Platinum Accounts Module (Sales, Purchase and Nominal Ledgers) you will need to post a journal in the nominal ledger to account for your wages. See the [[How do I Close a Payroll Period?#See also|See Also]] section below for how to do this.}}
 
{{Information|title=Information|text=At this point if you use the Platinum Accounts Module (Sales, Purchase and Nominal Ledgers) you will need to post a journal in the nominal ledger to account for your wages. See the [[How do I Close a Payroll Period?#See also|See Also]] section below for how to do this.}}

Revision as of 10:26, 20 March 2013

Summary

The following article explains how to close off a payroll period. This procedure must be followed when you have completed a period and you would like to move into the next one. Please ensure you have run all the necessary reports and printed the payslips before proceeding.

Details

Get into " Payroll Run Payroll Period"

  • Click [OK] at the "Payroll Selection" window which opens the period you about to close.

If you run more than one frequency i.e. a Monthly and a Weekly payroll, you must first select the period you would like to close by selecting [Yes] alongside the appropriate "Payroll Frequency" e.g. 'Monthly'.

  • Make sure you have produced any "End of Period" reports you need.
  • Press <F2> to "Close Current Period".
  • A box will pop up asking you to be sure you wish to close the current period. Click

[Yes] to proceed with closing the period.

Additions to Period end Procedure for RTI Submissions

As of April 6th 2013 (after your year end) with the Addition of RTI (Realtime) Payroll Submissions at this point you will get some new options.

Full Payment Submission (FPS)

Platinum sends these automatically when you click [Process] in Run Payroll to process and close off a period. The confirmation message has an added button [Test] that can be used to send a "test-in-live" Full Payment Submission (FPS) without committing the details to the HMRC.

Tip: This follows the same process as the Test/Live drop-down in the previous End of Year submissions.

Employer Payment Summary (EPS)

Added a new option to " Payroll Payroll Procedures/Reports Monthly Procedures/Reports Internet Filing of Returns Submit Employer Payment Summary". This is like a cut-down version of the previous End of Year submission process except it should be used after any month for which you need to claim any amounts of SSP/SMP/SAP/etc. to recover.

IMPORTANT NOTES FOR THE LAST PAYROLL PERIOD: For the final month of the year you should tick the "Final submission for the year" box, which adds the Checklist and Declaration pages from the old End of Year submission screen and replaces that whole process.
Tip: There is no separate End of Year submission next year.

Once all this is done this closes the period and moves you into the next one.

Information: At this point if you use the Platinum Accounts Module (Sales, Purchase and Nominal Ledgers) you will need to post a journal in the nominal ledger to account for your wages. See the See Also section below for how to do this.
Tip: If your system does not include Platinum accounts but you are interested in getting it please don't hesitate to Contact your Platinum dealer or our sales team on 0116 230 1500 or by using our website sales contact page.

See Also


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Keywords AND Misspellings
Close, Closing, Payroll, Period