Step 4: Final steps before you run payroll
Last update: Wednesday, June 23, 2021
Summary
You've done amazing, and we're down to the last step, and that's just to triple-check that everything is looking fine. 💪
To review the payslips, head over to the My Employees space > Select an employee > Click View payslip.
Final steps checklist (in order)
Give employees access to their employee space - You can do this by going to Access & emails > Employees access.
Double check each payslip - Please review the payslips and let us know if you have any questions. We will do our best to explain / correct the payslips.
HMRC - You are able to review the HMRC bill after your payroll runs (via Running payroll > Payments to make) Please don't hesitate to contact us if the bill on PayFit does not match the bill on your HMRC account.
Pensions - Please make sure to give us access to your pension scheme, so that we are able to submit declarations on your behalf - https://help.payfit.com/hc/gb/articles/360010444979-How-to:-Give-PayFit-Access-To-My-Pension-Scheme
Optional step - download and use our Payroll Calendar to find out about key dates and delegation of responsibilities - https://help.payfit.com/hc/gb/articles/360019356419-PayFit-Payroll-Calendar
Run payroll (this is PayFit lingo for finalising payroll) - you may do this manually or automatically - https://help.payfit.com/hc/gb/articles/360003683299-Running-Payroll
F.A.Q. when reviewing payslips
How do I know that I’ve set up everything correctly?
The best indicator to validate that everything is set-up correctly is to review the payslips and compare it with your previous month’s payslip. If the net figure, tax, pensions, student loans etc. look correct, then congratulations! You have completed the set-up!
One of the figures in the payslip is off. How do I get it fixed?
It’s important to note that discrepancies of +/- 70p are natural and are accepted by the HMRC due to the variations in rounding methods used by each software to calculate tax.
Important questions to ask when reviewing payslips:
1. Gross pay - Is the gross pay the same from one payslip to another? Bonuses for example, will affect taxes and other figures.
2. Tax code (personal allowance) – if only the taxes are off by a lot, it could be due to the tax code changing from 1 month to the other.
3. Did I select the right pension settings? – if the pensions and taxes are off for all payslips, you likely have the wrong pension settings.
4. Did I select the right directorship calculation method? – for directors, there are two ways to calculate their national insurance.
If you are not able to identify the issue, the PayFit team is ready to help you out. Feel free to send a ticket, so that we can identify the issue and help you out.
Contact us if you can’t find what you are looking for
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