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
|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
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
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
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