Keytime Payroll Year End April 2021

Payroll Year End

Hello,

Please read these instructions before attempting year end.

Release Notes

Click here for the latest release notes

Software Update

Download Keytime Payroll 2020-21 Year End

Getting Help

You can get help with your year end in one of three ways:

Online at support.keytime.co.uk

Email us at support@keytime.co.uk
Call us on 0344 815 5560

PAYE Legislation Changes

Please click here for details of the PAYE legislation changes for the 2021/22 tax year.

Install the update

The year-end update installs two versions of the software onto your PC.

Keytime Payroll 20 (for 2020-2021 and year-end processing)

Keytime Payroll (for processing 2021-2022 payrolls)

Step by step installation instructions:

1. Ensure that no Keytime programs are running – if they are, close them


2. Click here to download the update


3. Follow the on-screen prompts and allow the update to install


4. The system will tell you when it has finished

Finish processing

It is imperative that you take regular backups throughout the payroll year. As well, you must take a separate pre-year end backup and store it separately from your usual backups. It helps to label this as a year-end backup.

You should complete every period for 2020/2021 payroll before processing the year end. Payroll will not allow you to process year end whilst a pay period is open.

Week 53

A week 53 payment will only be required in 2020-2021 if the actual day on which you pay your staff is Monday 5^th April. 

If your payment date is correctly set in the system at Monday week 53 will run automatically.

In line with legislation, Keytime Payroll calculates the extra period on a week 1/month 1 basis. Please bear in mind that this could cause staff to be underpaid for the year ended 5th April 2020.

Filing a Final FPS or EPS

The final FPS must be filed on or before the date you pay employees.

If you have statutory payments to recover, or you need to tell HMRC that you haven’t paid anyone in the final tax month, you must file an EPS. Under these circumstances the EPS must be filed by 19th April 2021 to ensure HMRC allocate recovery amounts to the correct period and tax year.

Final FPS

Open your 2020-2021 payroll, to submit a final FPS click submit on the main toolbar in the employee library, then click Full Payment Submission.

Select the relevant FPS and click Submit. In the FPS wizard, tick (click) the box ‘final submission for the year’ and click next.

Once the pre-filing validations have been completed, click Submit to send the FPS; you can send the final FPSs as many times as necessary.

Final EPS

If you need to send an EPS, for example to recover statutory payments, you can send a final EPS instead of a final FPS (you must still send an FPS for the last period). Click submit on the main toolbar in the employee library, then click Employer Payment Submission.

Select the relevant EPS and click submit. In the EPS wizard, tick (click) the box ‘final submission for the year’. Continue with the EPS as normal. It is important to note that if you are recovering statutory payments you must submit the EPS by 19th April 2021 to avoid HMRC allocating the recovery amount to the incorrect tax period and year. 

Run the year end

• Install the Payroll Year End update if you haven’t already done so


• Complete any outstanding processing for 2020-2021 and close the last period as usual – you must ensure you have a backup before closing the final period. If you normally use an icon on your desktop to start the payroll software, use the new Keytime Payroll icon instead


• Take a backup of your data and label it as your Year End backup. Keep it safely away from your regular backup set


• Using the Keytime Payroll 2020-2021 icon go back into your 2020-2021 payroll and print off your P60s. To do this, make sure you are in the Employees screen (the employees button in the top-left hand corner will be disabled). Reports > Year end > P60s


• Print the reports you need before year end. It is possible to print P60s after closing down the year. To do this simply log into the 2020-2021 payroll using the Payroll 2020-2021 icon

You can now run the year end. This will create your data in the 2021/2022 version of the software.

In the 2020/2021 version of Payroll click Payroll > End of year > Process end of year

• Close Payroll 2020/2021 and re-open it using the other icon, which will be labelled simply Keytime Payroll. The tax year (bottom right) should now read 2021/22 and the pay periods will have reset to 1.

P60 print alignment

All the boxes on the P60 are in fixed positions which should be correct for all printers.

Please note that the system uses Portrait Laser P60 single sheet forms only. 

Occasionally, you may need to adjust the prints to fit the forms. You can manoeuvre the entire print horizontally and/or vertically to ensure that it prints within the boxes on the form.

From Setup > Configure system, click the settings tab. You can then adjust the margins to align the P60s.

If you do make a change, we recommend making a note of the original settings, in case your payslip alignment is affected. You only need to make this change in a single company - other companies will use the same settings.