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previous paye
How do I enter PAYE as it was paid Between April 08 and the start of my new company year (Dec 09) ?
I already have payslips - I don't fancy trying to create new ones to match - but I can't see how I show the money as owed without doing this.
I already have payslips - I don't fancy trying to create new ones to match - but I can't see how I show the money as owed without doing this.
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Inappropriate?Sean - we conversed via email on this last week, so I'm just summarising here for everyone else's benefit:
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You could just add some payslips for the previous tax year (from December to March) editing each one to reflect the amounts actually paid and deducted. Use 'Setup Payroll' for that tax year but enter a starting date as the first payslip you're wanting to replicate in FreeAgent. There may still be a small opening balance from what was owed but not paid (or vice versa) when the company year started.
You can enter that opening balance for that employee or director to reflect what was owed at your FreeAgent start date. Visit Home > People and click on the appropriate person to see the detail page. -
Inappropriate?Thanks Ed
That has sorted it out for me.
I've been doing this while reviewing my first set of company accounts - it's actually been the accounts that were hard to understand more that free agent.
I figured out that there were balances owing at the start of my tax year (some unpaid salary - some overpaid tax) - once these were entered and payslips adjusted as above it all worked fine.
NB I had to push my accountant to explain all the figures in my accounts so that I had clear starting balances in all the right categories.
I’m happy freeagent is all balanced
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