2017 eoy guide - thesaurus software · thesaurus payroll manager – 2017 end of year guide 1...
TRANSCRIPT
www.thesaurus.ie
ThesaurusPayrollManager–2017EndofYearGuide 1
ThesaurusPayrollManager2017EndofYearGuide
Thisisa9stepguidetothegeneralprocessrequiredinordertomeetyouremployerendofyearobligationsinlinewithRevenuerequirementsforthetaxyearending31stDecember2017.Thisdocumentisforgeneralguidanceandreferencepurposesonlyandisnotintendedasacompleteandcomprehensiveguideastheremaybeadditionalorvaryingprocessesrequireddependantonyourspecificbusinessneedsand/orreportingrequirements.
Contents Page
1. Completethepayrollfor2017 2
2. Issuefinalpayslipstoemployees 3
3. PrepareandsubmitthefinalP30 4
4. Complete2017medicalinsurancetaxreliefrequirements 6
5. Reviewendofyearreports 7
6. Reviewemployer’sP35liability 9
7. PrepareandsubmittheROSP35 11
8. IssueP60stoemployees 19
9. Datestoremember 21
ThesaurusPayrollManager–2017EndofYearGuide 2
1. Completethepayrollfor2017
Allpayrollfrequencies,forwhichyouoperatepayroll,i.e.weekly,fortnightlyand/ormonthly,shouldbecompletedpriortorunninganyendofyearRevenuereturns(P35)orissuingendofyeardocumentstoemployees(P60).Allweekly,fortnightlyandmonthlypayrollwhicharesetupand,forwhichyoufinalisepayslips,withinThesaurusPayrollManagershouldbecompletedforallpayperiods,i.e.week52/53,fortnight26,month12,whichhavea2017paydate,onorbefore31stDecember2017.Updateallpayperiodsfor2017Tocompletethesepayperiodsyoushouldfinalisethepayslipsforthelastpayperiodwhichhaveapaydateonorbefore31stDecember2017throughthePayslips>UpdatePayslips>Menu.
Enterthepaydateapplicabletothefinalpayperiodforthispayfrequencywithintheyear.
ThesaurusPayrollManager–2017EndofYearGuide 3
Week53Whenshouldanemployeruse“Week53”inthepayroll?Thishappenswhenapaydayfallson31stDecemberor,inaleapyear,on30thor31stDecember."Week53"occurswhentherearefifty-threeweeklypaydaysintheyear,employerspayingwagesonaSundaywillhave53paydaysin2017.ThesaurusPayrollManagerwillalwaysofferaWeek53optionsubsequenttothecompletionofWeek52.However,itshouldonlybeused(i.e.payrollinputandpayslipsfinalisedforweek53)if,oncompletionofweek52,thereisasubsequentpayperiodwithinthesametaxyear,inthiscasewitha2017paydate.Whatactionshouldanemployertake?ThesaurusPayrollManagerautomaticallyappliesanyUSCcutoffpoints,employee’staxcreditandcutoffpointsonaWeek1basisintheweek53payroll,asperRevenueregulations.Pleasenote:ifanemployee'snormalpaydayhaschangedduringthistaxyearortheprecedingtaxyear,theadditionalUSCcutoffpointsdonotapply.YouwillneedtoinstructthesoftwareiftheadditionalUSCcutoffpointsarenotapplicabletoanemployee.TopreventtheadditionalUSCcutoffpointsbeingallocatedgotoEmployees>Add/AmendEmployees>Selecttheemployee>ClicktheRevenueDetailstab>Ticktoindicateexemptions/exclusionsapply>ticktoexcludetheemployeefromtheweek53USCconcession>updatetosavethechange.
2.Issuefinalpayslipstoemployees
Oncompletionofthefinalpayrollforeachfrequencythatyourunpayroll(i.e.monthlyand/orweekly/fortnightly)issuethefinalpayperiodpaysliptoeachemployee.
Payslipscanbeprintedoremailed,asperyourrequirements.
ThesaurusPayrollManager–2017EndofYearGuide 4
3.PrepareandsubmitthefinalP30
Oncompletionofthefinalpayperiodfor2017,preparetheP30reportandsubmitthefinalP30forthetaxyear.PreparetheP30reportSelectthesameP30reportasyouhaveusedtodate,eithertheP30byweeknumberortheP30bydate.
ReviewtheP30totalsforthefinalP30period,i.e.Month/Quarterending31stDecember2017.
SubmittheP30returnfortheperiod,arrangingpaymenttoRevenueinaccordancewiththeP30deadline.
ThesaurusPayrollManager–2017EndofYearGuide 5
UpdatethePaymentRecordWithinThesaurusPayrollManager,updatetheP30paymentrecord,withtheamountanddateofthefinalP30payment.Thesoftwarewillaccepta2018datewithinthisutility.ThiswillhelpyoureconcileanyendofyeardifferenceswithRevenuerecordsortoidentifyanybalancepayableorreclaimablefromRevenue.
ImportantNote:ThedatethatRevenuedebitthefinalP30paymentfromyourbankaccountmaybeaftertheP35submissiondate-thereforethisamountmayshowasoutstandingwhensubmittingyourP35.ItisimportanttobeawareofthedatevariancebetweentheP35submissionandfinalP30debitdatesothatitisnotpaidagainatthetimeofsubmittingtheP35.
ThesaurusPayrollManager–2017EndofYearGuide 6
4.Complete2017MedicalInsuranceTaxReliefrequirements
Thetaxreliefonmedicalinsurancepremiumsiscappedat€1,000peradultand€500perchild.Wherepremiumsexceedthesethresholds,theexcesswillnotqualifyfortaxrelief.
2017P35requirement
Whereanemployerpaysmedicalinsurancepremiumsonbehalfofanemployee,employersarerequiredtoincludetheportionofthemedicalinsurancepremiumthatiseligiblefortaxreliefforeachemployee,onthe2017P35.
Medicalinsuranceproviderswilladviseemployersoftheamountsforeachemployee.ThisinformationmustbeenteredforallapplicableemployeesintoThesaurusPayrollManagerpriortosubmittingtheP35.
ImportantNote:ThesaurusPayrollManagerwillnotprepareaROSP35untilthisrequirementismet.Thisonlyaffectsemployerswithemployeesonthepayrollforwhomamedicalinsurancebenefitispresentinthe2017payroll.
UpdateMedicalInsuranceEligibleforTaxRelief
• FromtheUtilitiesmenu,chooseInputMedicalInsuranceEligibleforTaxRelief
• Allemployeeswillbelisted,choosethefirstemployeerecord,forwhomamedicalinsurancebenefitinkindexists,fromthislisting.
• EntertheTaxReliefatSource(TRS)/medicalinsuranceeligiblefortaxreliefvalue,asadviseddirectlybythecompany’smedicalinsuranceprovider.ThesaurusPayrollManagerwillautomaticallyincrementanyTRSfigureenteredtogivetheMedicalInsurancePremiumwhichiseligiblefortaxreliefwhichistheRevenueP35requirement.Thisamountcannotexceedthetaxablepremiumpaidbytheemployer,i.e.thevalueofthebenefitthattheemployeehasbeentaxedonthroughthepayrollyeartodate(aswillbeshownfromthebenefitinkindscreen).
ThesaurusPayrollManager–2017EndofYearGuide 7
• SelectUpdatetosavetheentryandproceedthroughtheemployeelistinguntilallrelevantemployeerecordshavebeenupdated.
5.Reviewendofyearreports
ReviewtheyearendreportsinThesaurusPayrollManagertoensurethatyouaresatisfiedwiththefinalpayrollinformationandfigurespriortoproceedingtotheP35submission.
AccessYearEndP35report
• GototheP35/P60smenu
• SelecttheP35spreadsheet/filecopy
ThesaurusPayrollManager–2017EndofYearGuide 8
• Thisreportgivesafulllistingofallemployeesemployedwithinthetaxyearforallpaymentperiods(weekly/fortnightlyandmonthly).
ReviewtheP35report
Theemployee’swages,asprocessedeachpayperiod,areaccumulatedanddisplayed.ItisthisinformationthatwillbetransferredtotheP35fileforROSsubmissiontofileyourannualwagereturn.
• Performaseriesofpayrollchecks,suchas:
a) Allemployees/directorsemployedduringtheyeararelisted
b) Confirmthefiguresenteredonthepayrollarecorrect
c) EachemployeehasaPPSnumberpresent,intheabsenceofaPPSnumberthedateofbirthandfulladdressisrequired(wheretherehasbeenadeductionofLPT,aPPSnumberismandatory)
• Ifanyemployeehashadmultipleemploymentsduringthetaxyear,ThesaurusPayrollManagerwillautomaticallymergesuchrecordswhenpreparingtheP35forROSasperRevenuerequirements.
CorrectPayrollErrors
Ifthereareanyerrorsoromissionsonthisreport,theseshouldberectifiedbeforeproceedingtoprepareandsubmittheP35.
TheReverseUpdatefeaturemaybeusedtorevisehistoricalpayrollifappropriatetodoso.
Forinformationwhichisomitted,suchasPPSnumber,address,dateofbirthetc.,simplyupdatetheemployeerecordinAdd/AmendEmployees.
ThesaurusPayrollManager–2017EndofYearGuide 9
6.Reviewemployer’sP35liability
PriortosubmittingtheP35,thepaymentstatusoftheemployershouldbeestablished:
a) IsthereabalancepayabletoRevenueonsubmissionoftheP35inadditiontotheperiodicalP30paymentsmadeonaccount?or
b) Hastheemployeroverpaidonaccount,thereforeinareclaimableposition?or
c) IstherenilduetoRevenue?
PleasenoteyoushouldreconcilepaymentsmadetoRevenueasperyourROSaccount.ThiscanbedonebypreparingaROSstatementof2017paymentsmadeonaccount.
ToprepareaROSstatementof2017paymentsmadeonaccount:
• CheckyourP30periodicalpaymentsmadeonaccounttoRevenueforthetaxyear2017,byloggingintoyourROSaccountandselectingRevenueRecord
• FromtheOPTIONSmenu(onthelefthandside)choosetoviewPayments
• SelecttheTaxTypePAYE-EMPandthetaxyear2017
• Allpaymentsmadeforthetaxyearwillbedisplayedonscreen
IncludependingpaymentsarrangedviaRDIorpaidbychequeOnsubmittingtheDecemberP30,aROSDebitInstruction(RDI)isarrangedtosettlepaymentfortheP30.Thisisnotusuallydebitedfromthebankaccountuntilthe23rdofthesubsequentmonth,i.e.23rdJanuary2018.
WhenpreparingtheRevenuerecordofpaymentspriorto23rdJanuary2018,theDecemberpaymentmaynotbeincludedasthedebitwillnotbemadefromyourdesignatedbankaccountuntil23rdJanuary2018.Ifthisisthecase,adjustyourtotalpaymentsmadetoRevenuetotakeaccountofthisinreconcilingtotheThesaurusPayrollManagerP30totals.Likewise,ifyouhavepaidbycheque,thechequemaynotyethave
ThesaurusPayrollManager–2017EndofYearGuide 10
beenpresentedatthebank.Ifthisisthecase,adjustyourtotalpaymentsmadetoRevenuetotakeaccountofthisinreconcilingtotheThesaurusPayrollManagerP30totals.
PreparetheP30reportwithinThesaurusPayrollManager
PreparetheP30reportinThesaurusPayrollManager(asperStep3above).
ComparethepaymentsmadeonaccounttoRevenuetotheP30totalsfor2017asshownontheThesaurusPayrollManagerP30report.
AnydifferencesshouldbeidentifiedandinvestigatedpriortosubmittingtheP35.
WhywouldtherebeataxbalancedueontheP35?
• IfyouhavenotsubmittedtheP30sinaccordancewiththeP30reportascomputedbyThesaurusPayrollManagerandhavepaidaloweramount
• IftherewasabasicerrorintheamountsenteredwhencompletingaROSpaymentinstruction,forexample,PAYE€2,389.00enteredinsteadof€3,289.00
• If,duringthetaxyear,payrollperiodswerere-openedandthepayrollwasamendedforaperiodforwhichtheP30wasalreadysubmitted.TheamendedpayrollcreatedagreaterP30liabilityfortheperiodwhichwasn’taccountedfor.
• IfyoutransferredyourpayrollfromamanualoranotherpayrollsoftwareproviderinthemiddleofaP30period,theP30submissionmaynothavebeenreconciledcorrectlyduringthetransferprocess.
WhywouldtherebetaxreclaimableontheP35?
• IfyouhavenotsubmittedtheP30sinaccordancewiththeP30reportascomputedbyThesaurusPayrollManagerandhavepaidahigheramount
• IftherewasabasicerrorintheamountsenteredwhencompletingaROSpaymentinstruction,forexample,PAYE€2,159.00enteredinsteadof€1,259
• If,duringthetaxyear,payrollperiodswerere-openedandthepayrollwasamendedforaperiodforwhichtheP30wasalreadysubmitted.TheamendedpayrollcreatedalesserP30liabilityfortheperiodwhichwasn’taccountedfor.
• IfyoutransferredyourpayrollfromamanualoranotherpayrollsoftwareproviderinthemiddleofaP30period,theP30submissionmaynothavebeenreconciledcorrectlyduringthetransferprocess.
ThesaurusPayrollManager–2017EndofYearGuide 11
7.PrepareandsubmittheROSP35
TheP35deadlineisthe15thFebruary2018(or46daysaftercessationofthebusiness).FailuretosubmitaP35annualreturnbythisdatemayresultintheimpositionsofpenaltiesandinterestbyRevenue.Theextendeddeadline,ifyoubothfileandpaythroughROS,is23rdFebruary2018.Onceyouhavereviewedallendofyearreportsandyouaresatisfiedthatyourpayrolliscompleteandconcisefor2017thenproceedtopreparingandsubmittingthe2017ROSP35.
PreparetheROSP35
• SelecttheP35/P60smenu
• FromthismenuchooseROSP35
• Ensureallvalidationissueshavebeenresolved
• Entercompanyaddress,telephonenumber&contactname(optional)
• SelectContinue
• ThepayrollsoftwarewillautomaticallysavetheROSP35filetoC:\ROS\P35L(Ifyouwishtosavethe
ROSP35toadifferentlocation,clickBrowse>SelectthenewlocationtosavetheP35to>selectOK)
• SelectPrepareFile
ThesaurusPayrollManager–2017EndofYearGuide 12
• YouhavesuccessfullypreparedyourROSP35file.TheROSP35filewillsavewiththe-17.p35
indicatedattheendofthefilename.
SubmittheROSP35
LogintoyourROSaccountatwww.revenue.ietosubmittheP35SelectLogintoROS.YouwillberedirectedtotheROSloginpageautomatically.
• SelectyourROSCertificate
• EnterPasswordassociatedwiththatcertificate
• SelectLogintoROS
ThesaurusPayrollManager–2017EndofYearGuide 13
ROSwillautomaticallybringyoutotheMyServicessectionofyouraccount.
• AstheP35hasbeencreatedbyThesaurusPayrollManager(i.e.offline)youarechoosingtoUploadForm(s)CompletedOff-line
• SelectP35Lfromthedropdownlistofforms
• ClickUploadReturn
• YoumustnowselecttheP35fileforUpload
ThesaurusPayrollManager–2017EndofYearGuide 14
• SelectAddFile(s)(ROSwillautomaticallyopenthedefaultdirectoryofC:\ROS\P35L,ifyouhavesavedthefiletoanotherlocationthenbrowsetothatlocation)
• Selectthe2017P35file,-17.p35file-e.g.6005J-17.p35
• SelectOpen
• EntertheassociatedPassword
• SelectUploadFile(s)
ThesaurusPayrollManager–2017EndofYearGuide 15
TheP35L,P35LT,P35LFandP35DeclarationwillalldisplayonscreenasreaddirectlyfromtheP35fileuploadedonthepreviousscreen.
TheP30PaymentDetailstotalsallpaymentssubmittedfor2017,thesefiguresaretakendirectlyfromyouraccountwithRevenueandnotfromthepaymentrecordheldinThesaurusPayrollManager.
ThesaurusPayrollManager–2017EndofYearGuide 16
TheP35summarywillshowifyouhaveabalanceoutstanding,anilbalanceorifyouareinarefundsituation.Thiscalculationistakenfromthepaymentsmadeonaccount(viaP30)andthetotalliabilityfortheyearfromtheP35formwhichhasbeenuploaded.ToproceedwiththeP35submission,youmustchooseifyouwillmakeapaymentoftheROSpromptedamount*outstandingandenterpaymentdetailsatthispointwiththeP35submissionorFilereturnonly(ifyouareinarefundpositionoryouwishtomakepaymentatalaterdateorRevenuehavenotreflectedthelastP30payment).*IftheamountdueisequaltotheDecemberP30,forwhichpaymenthasalreadybeenarranged,thendonotrepeatpaymentatthisstage.MakepaymentwithsubmissionIfyouchoosetomakeapayment:
• SelectPaymentMethodi.e.Debitcard,RDI(ROSDebitInstruction)
• Theamountsduewillbedisplayed
• Enterthetotalamountofthepayment
ThesaurusPayrollManager–2017EndofYearGuide 17
• Enterthedateofpayment,ifpayingbyRDIthiscanbesetto23rdFebruary2018.
• SelectNext
Ifyouchoosetomakeapayment,thenextstepwillbetoConfirmPayment
• ConfirmfileuploadbyenteringyourPassword
• SelectSign&Submit
• Anacknowledgementconfirmationnumberwilldisplay,pleaseretainthisnumberintheeventofaqueryarisingrelatingtoyoursubmission
• AnacknowledgementofyourP35returnwillalsobesenttoyourROSInbox
FileReturnOnly(NoPayment)
ThesaurusPayrollManager–2017EndofYearGuide 18
• SelectFilereturnonlytomakeaP35returnwithNOpayment-UsethisoptionifyouwishtoreturnaP35withoutpaymentorifyouhaveNOfurtherpaymenttomake.
• SelectNext
• Confirmthatyouwishtofileareturnonly
• ConfirmfileuploadbyenteringyourPassword
• SelectSign&Submit
• Anacknowledgementconfirmationnumberwilldisplay,pleaseretainthisnumberintheeventofaqueryarising
• AnacknowledgementofyourP35returnwillalsobesenttoyourROSInbox
ThesaurusPayrollManager–2017EndofYearGuide 19
8.IssueP60stoemployees
AP60isanemployee'scertificateofincomeanddeductionsforthetaxyear.P60sareonlyissuedtoemployeeswhoarestillinyouremploymentasat31stDecember.Onlyonecopyisrequiredtobeissuedtoeachemployee.
TheP60sshouldbeissuedtoallemployeesbythe15thofFebruary.
ToPrint/EmailP60s
SelecttheP35/P60smenu.
• SelectindividualemployeesbysimplyclickingoneachemployeenameforwhomyouwishtoprintaP60for.AlternativelychooseSelectAlltoprint/emailP60sforallemployees.
• SelectPrint/EmailfromthePrint/Emailoption
PleasenoteRevenueadvisethattheP60needonlybe“madeavailable”toemployees,thereforeissuingP60sbyemailisanacceptableRevenuecompliantformat.
ThesaurusPayrollManager–2017EndofYearGuide 20
RevenuehasdiscontinuedtheprovisionofP60stationery.AllpayrollsoftwareprovidersarepermittedtoprinttheP60templatetoblankA4paper.ThesaurusPayrollManagerwillprintP60sinaccordancewithRevenueguidelines,seeexample:
ThesaurusPayrollManager–2017EndofYearGuide 21
9.Datestoremember
2018EmployeeStatements
IssueP60s 15thFebruary2018
2018RevenueReturns
Paper P35SubmissionDeadline 15thFebruary2018
P35PaymentDeadline 15thFebruary2018
ROS P35SubmissionDeadline 15thFebruary2018
P35PaymentDeadline 15thFebruary2018
ROS P35SubmissionDeadline 23rdFebruary2018(Pay&File)
P35PaymentDeadline 23rdFebruary2018