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7 steps to manage Payroll Year End with Xero | Xero Blog

7 steps to manage Payroll Year End with Xero | Xero Blog

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- UK payroll year-end: What’s changing this year | Xero Blog 













































   

 

Get ready for payroll year end with Xero | Xero Blog.



  Xero will determine the final pay run using the payment date. This date needs to be between 6th March and 5th April to trigger the final pay run. Learn how to complete end of financial year requirements for Payroll and submitting your paperwork with the HMRC.  


- Your UK payroll year end checklist | Xero Blog



  In the Payroll menu, select Employees. Click Payment Summaries. If you've set up STP, you can access old payment summaries. Click End of year reports, then select Payment Summaries. (Optional) Under FBT Exemption, select the checkbox if you want to enter exempt and non-exempt reportable fringe benefit taxes (RFBTs) for each employee. Xero's reports are created in real-time, and reports like the Profit and Loss report run from the start of the financial year using the year-end date you've specified in Xero. Once the new financial year starts, as long as you haven't entered any transactions into Xero for that year, the Profit and Loss report shows You can make sure your accounts are up-to-date prior to . Create an Earlier Year Update (EYU) to only correct employee payroll details sent to HMRC for the /20 year or prior. use HMRC’s Basic PAYE Tools ( website) to submit your changes. To reconcile the differences submitted in the EYU, you need to post a manual journal to the General Ledger. Xero also updates your payroll reports.    


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