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Hello,
I have a client whose payroll I am going to do once I have got my payroll exam results (have an expected result date of 5th April!)
They have been running the payroll through quickbooks software, but they have been using the 2010/2011 dated quickbooks, and not updated with the 2010/2011 quickbooks software.
Unless I am mistaken, this will mean that all of the limits of the tax and national insurance payments for this year will be wrong.
I am trying to think of the best way forward for when I take this over (assuming I can do the last payroll run of this tax year having passed my exam and upgraded my membership)
Would you put the YTD figures from the software currently being used into the 2011 quickbooks? Or can you alter all the limits on the 2010 quickbooks? How would this affect the NI? (I am guessing not a problem for tax as it is cumulative, but might be an issue for NI?).
I haven't looked at the software yet until I get my exam results. Could it be that the quickbooks software automatically does a web update with the correct tax and NI thresholds even if using the wrong disc?
Would appreciate any advice on a bit of a sticky situation!
Cheryl
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