Many apologies, did not wish to "fence" around, it was the principle I was seeking to understand. We are just a very small business so it has thrown us a bit and I'm not sure if there should be any additional entries.
Invoice amount £238 - paid to us by agency
Late payment interest/costs £84 - retained by agency but they have sent us an invoice marked paid
If we run payroll on 28th, then they are autoenrolled on 29 June they will have earned enough between 29 and the July pay date. I agree that they should not have a status of being opted in and just don't understand why Sage payroll cannot auto enrol from 29 June? This scenario must happen all the time. I'm just wondering if I am misunderstanding something but want to get it right.
Thank you for taking the time to reply.
We have received the full invoice amount from the debt collection agency but the extra late payment interest/costs paid by the debtor to the agency has been retained by them as fees and they've provided me with an invoice. It's this portion I'm trying to understand the entries for please.
My answers
Thank you for your help. Much appreciated
£70 +VAT and yes registered for VAT
Many apologies, did not wish to "fence" around, it was the principle I was seeking to understand. We are just a very small business so it has thrown us a bit and I'm not sure if there should be any additional entries.
Invoice amount £238 - paid to us by agency
Late payment interest/costs £84 - retained by agency but they have sent us an invoice marked paid
Thank you for taking the time to reply.
If we run payroll on 28th, then they are autoenrolled on 29 June they will have earned enough between 29 and the July pay date. I agree that they should not have a status of being opted in and just don't understand why Sage payroll cannot auto enrol from 29 June? This scenario must happen all the time. I'm just wondering if I am misunderstanding something but want to get it right.
Thank you for taking the time to reply.
We have received the full invoice amount from the debt collection agency but the extra late payment interest/costs paid by the debtor to the agency has been retained by them as fees and they've provided me with an invoice. It's this portion I'm trying to understand the entries for please.
Not sure how to account for the transaction - been lucky and not had one of these before.
Thank you