Help with Payroll and Quickfile

Support
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Dear all,
I am a one man limited company and have started using Quickfile. I had no income for a while and I got some work/money. I gathered that I need to pay myself modest salary and rest as dividends. I am wondering if someone could explain how should I go about this. I understand that I need a Payroll site and people seem to suggest payroo.com (any recommendation for Quickfile?) . I am also not sure about the salary part as I don’t know when I will get next work again but for the 2015-2016 year, I guess I can pay myself for Jan to Mar 2016 and rest as dividends.
Many thanks for your help.
Solar

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Hi @solarpower03

In terms of whether or not what you’re doing is the correct way of doing things, I’m afraid I can’t help there as I’m not an accountant. There are a few on the forums who may be able to comment, or alternatively you could send a query through your dashboard (there’s an option in the top right above the ads). Alternatively, may be best to check with somewhere like Accounting Web?

Anyway, onto the part I can help with! To run payroll, you quite rightly say you need to sign up to a payroll service like Payroo or The Payroll Site. QuickFile does link up with The Payroll Site, so this option could make things easier for you.

There’s a guide for The Payroll Site here:
http://community.quickfile.co.uk/t/the-payroll-site-setup/8984

To record a payment of a dividend, check this post out:
http://community.quickfile.co.uk/t/how-do-i-pay-a-dividend/5173/4?u=qfsupport

I hope that helps!

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Thanks Glen. Considering that Payroo is free and I need for 1 person/director, how can I integrate Payroo with Quickfile? I assume I need to import the bank feed to Quickfile and tag the transactions as PAYE, dividend etc?

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Hi @solarpower03

You would need to journal them as well as tag them.

Here’s a useful post with screenshots that should be able to help:
http://community.quickfile.co.uk/t/how-do-i-enter-payroll-paye-journals-and-entries/53/4?u=qfsupport

Hope that helps!

P.s. I’m not Glenn :wink:

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You should change your screen name to “NotGlenn” :wink:

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