Here goes, ready… You click the run payroll button.
Drop the mic 🎤 ⬇️ 💥
Shoutout to all payroll bureau folk. Please pass this on to the many who won’t see this post as they’re busy completing their year end process. We want to tell you all how the year end process works in Paycircle.
Clicking ‘Run payroll’ in the final pay period of the year does all of the following in Paycircle:
👏 Automatically sends the final RTI submissions
🕺🏻 Automatically creates and uploads P60’s to employee portals
🏋🏻♀️ Automatically uploads payslips and P45s to employee portals
🚀 Automatically updates tax codes
✌️ Automatically uplifts statutory bandings
💅 Automatically updates statutory thresholds
😻 Automatically updates thresholds for Tax and NI
☀️ Automatically clears down Pension YTD figures
🎯 Automatically removes Week1/Month1 indicators
🏅 Automatically uplifts student loans thresholds
😎 Automatically updates auto-enrolment thresholds
👊 Automatically reclaims employment allowance for those entitled
👍 Automatically closes the old tax year
💥 Automatically opens the new tax year
If you want to look forward to this kind of year end in future, get in touch to find out more!
Written by Catherine Pinkney