Payroll – End of Year Tasks

As an employer running payroll, you need to:

  • report to HM Revenue and Customs (HMRC) on the previous tax year (which ends on 5 April 2017) and give your employees a P60
  • prepare for the new tax year, which starts on 6 April 2017
What you need to do   When
Send your final payroll report of the year   On or before your employees’ payday
Update employee payroll records   From 6 April
Update payroll software   From 6 April
Give your employees a P60   By 31 May
Report employee expenses and benefits   By 6 July

More details can be found here

Preparing for Audit

As we approach the end of the financial year, it is time to prepare the accounts for examination.

You can make your yearly audit as painless as possible by making certain that your financial statements are complete and accurate.

The most crucial step towards this is Bank Reconciliation.

Most adjustments that are discovered during audit relate to inadequate or inaccurate preparation of the Bank Reconciliation process.

This process is thoroughly explained in our book ‘The Adventures of Mr Claw in the World of Charity Accounting’If you would like a copy, please contact us here

Authorising Online Payments From Your Charity

We all safeguard our Charity’s bank account by having authorised signatories when issuing cheques, but what happens when a payment is made electronically?

Some banks offer a service whereby one authorised person logs into the account and sets up a payment, then a second authorised person logs into the account with a different password to authorise the payment.

However, we have recently seen an ‘in house’ form which has been produced, whereby the authorised signatories can sign to verify the electronic transaction. This seems a much more straightforward way of safeguarding the account – and also may avoid further bank charges!

If you would like further information about this, please contact us here

Business Planning Training Course Date Announced

Advance Notice of our Business Planning Course

A Leading Firm of Derby Accountants will lead the day on Business Planning for your organisation Learn about preparing, implementing and monitoring a Business Plan 

on Wednesday 14th June 2017

runs from 09:45 – 14:30

at the Derby Bosnian Centre DE1 1LN

Includes a FREE lunch!!

Book your place here