Government may accept EU funding
Today Minister for Finance Brian Lenihan said the Government may accept EU funding for the banks after talks in Dublin with the European Union and International Monetary Fund.
The Government however is also expected to battle to prevent any increase in the €6 billion adjustment proposed for the 2011 budget and the €15 billion target in the four-year plan.
What Everybody Ought to Know about P30/P35 Differences
As we approach the end of the tax year our minds turn to P30/P35 differences, or maybe not! If, on period update (or manually selecting the P30/P35 comparison option) you find that you have a difference between your P30 (Company) and P35 (Employee) totals either in the tax, PRSI or both then it may be due to one of the following reasons
A new employee was setup with PRSI figures from another employment.
A new employee was setup with P45 pay and tax entered as this employment.
An employee’s PRSI class was changed without retaining existing data.
A manual adjustment was made to an […]
Dataset Archiving in PayDay
DataSet Archiving in PayDay is the automatic storing of Datasets during each period update, but before clearing down all this period values. Archived Datasets can then be accessed at any stage, allowing reports to be run, etc. To access Archived Datasets (ensure there is no currently open Dataset) select ‘File’, and then ‘Archived Datasets’ from the main menu.
Archive SelectionPayDay by default displays all Archives, to reduce the number down use theArchive Selections options.
Company Name -Limits the list of archives to the selected company.
All Archives – List both Period Update and Year End Archives
Period Update Archives – […]
Four-year budget plan to be announced next week
Minister for Justice Dermot Ahern said yesterday that the government would publish it’s four-year budget plan early next week. This plan will contain the outline of the proposed budget cuts totalling €15bn over the next four years, budget 2011 will contain the largest single adjustment of €6bn.
Parking Levy Awaiting Implementation
Recently I have been queried a number of times regarding when the parking levy will start. The current situation is that the minister has signed the parking levy into force so it can go live at any time, but it is still awaiting implementation because there are issues in defining the designated areas. Watch this space ….
Universal Social Charge
As we await Budget 2011 on December 7, I want to take a look at one of the changes announced by Brian Lenihan in his budget speech for Budget 2010, the creation of the Universal Social Charge. Originally this was to “replace employee PRSI, the Health Levy and the Income Levy”, however this is now unlikely given the time constraints and it will simply combine the Health and Income Levies. I think it is fairly safe to assume that the Universal Social Charge will operate as a “super” Income Levy, that is with new increased rates and adjusted bands. PRSI will be as before but less the Health […]
How to Process Disabilty Benefit
To handle Disability Benefit for Irish payroll when the employer pays the employee and the employee gives the cheque(s) to the employer.
N.B. Social Welfare payments are not subject to Income Levy
The Payroll Administrator need to set up three new pay elements:
Disability Addition Taxable – Gross Addition, subject to Tax but not PRSI
Disability Deduction Taxable – Gross Deduction , subject to Tax and PRSI
Disability Addition Net – Net Addition, subject to neither Tax nor PRSI
First Six Weeks or 39 Working Days:
Salary / Basic paid as normal
Amount of Disability cheque entered as a Gross Deduction
Amount of Disability cheque entered as a Net Addition
Result: […]
EuroPayX – View Past Employee Payroll Record
You can display an employee’s record for any past period by clicking on the calendar tab on the employee window and then double-click on the date required, EuroPayX will then work out the payroll period for that date and then display a copy of the employee record for that period.
EuroPayX – Did you know about Diary Events
You can create a diary event in EuroPayX to remind you when to perform a desired action, so that for example you can enter the date on which an employee is due to return from maternity or paternal leave and the event will appear on the system when processing the payroll for that period. To create a diary event use the employee screen, call up the record for the employee to which the event applies and then click on the diary tab. Enter the date on which the reminder is required, EuroPayX will work out the payroll period and […]
You can NEVER have too many Back-ups
Remember to back-up” is the sort of advice that’s taken for granted like “remember to wash behind your ears” and “don’t feed the monkeys”. It’s easily given and just as easily shrugged off. “Whatthehell, it won’t happen to me”. Really? You’ve never had to search for a phone number or address, or re-construct a document that should have been there? At a low level, it’s annoying and wastes time. A worst case scenario may lose you a job or a business. Let me give a few facts and figures.
• 31% of PC users have lost all their data […]