To ensure that your employees' year to date balances are correct when starting with CloudPayroll, the opening balances as at an 'opening balance date' must be added.
- Go to Tax > Opening Balances.
- Enter the date of the opening balances in the Opening Balance field.
- Click Save to save the opening balance date.
A success message displays to confirm the opening balance date has been saved.
- Select an employee's name from the list in the table.
The employee's tax opening balances is displayed.
- Add the following details:
- Gross Taxable Earnings
- Employer Contributions (SGC)
- Salary Sacrifice
- Non Taxable Allowances
- Taxable Deductions
- ETP tax
- Click Save to save the opening balances for this employee.
A success message displays to confirm the details have been saved.
- Select the next employee from the list of employees on the left hand side.
- Repeat steps 4 to 5 for each employee until the opening balances have been added.