Newbie NI tagging question

Accounting
1

Hi,

I have recently started investigating QuickFile (after not many minutes its fair to say that investigating has turned into ‘using’ - excellent interface and product, really easy to pick up) and I discover that I don’t really know how to tag a NI payment.

The payment is a downloaded bank account transaction for NI for myself as the only employee/director.

Is anyone able to give me a bit of direction please?

Thanks

Chris

2

Is this Employee or Employer NI? Is this an NI payment or refund to HMRC?

Also are you using any 3rd party Payroll software? Usually you tag simple payments on account to HMRC and the payroll software will give you all the breakdowns that you can save as a journal.

3

Glenn,

Thanks for the reply.

The transaction is an Employee NI payment to HMRC.

I am paying my accountant for Payroll services, at present, and attempting to discover whether I have the ability to do more myself and reduce my accountancy bill. I have detailed reports and payslips from their system which they post to me on a monthly basis.

Once I’ve got my historical transactions into QuickFile and run for a month or so entering current ones ‘live’ rather than in catch-up mode I intend to investigate Payroll software.

4

Well for your reference we do have an integration with The Payroll Site. This will allow you to complete your payroll and push the figures directly into QuickFile.

http://help.quickfile.co.uk/main/1/the_payroll_site.htm

5

Glenn,

Thanks again - that has to be my next step then.

In terms of the recording of the NI payment, is there a page in the Knowledge Base I should be reading?

6

As we don’t have any native payroll on QuickFile it’s not a well covered subject.

Having said that it does pop up on the forum occasionally and the following post explains things in quite a bit of detail.

http://community.quickfile.co.uk/t/how-do-i-enter-payroll-paye-journals-and-entries/53

On QuickFile we track what the PAYE liability is at a given time, i.e. how much do we owe HMRC? QuickFile doesn’t however split everything up, e.g. NI, income tax, SMP etc. This information comes from your Payroll software.