Hi all,
Just wondering if anyone can help?
I am about to process the payroll for a director (sole share holder and director), and was going to process an annual payroll. However I have just seen that Moneysoft does not support this pay period, admitedly I didnt check Moneysoft before purchasing (went with price as was trying to keep costs down in my first year going solo).
This is the clients first year of incorporation, and the payroll has only just been set up.
How do you process these within Moneysoft? will back dating and producing a payrun for each month result in penalities?
Replies (3)
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Just put the whole amount in month 12 and make sure you choose the cumulative Director pay option, I think this is the default. Next year you can file nil RTI months 1-11.
Brightpay supports annual payments if that helps. You could always download a free trial of Brightpay and run an annual payroll for this director.
I do as Matrix suggests, in Moneysoft. Nil FPSs on a monthly basis, put the pay through in March.
As you say the payroll has only just been set up Moneysoft will work fine for you. Certainly don't back date. Make sure that you get the date appointed as a director correct.