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How company dates affect the payroll

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Summary

We explain how company date settings in Sage VIP Classic and Sage VIP Premier affect payroll calculations and reporting.

Description

Company dates are critical in payroll processing. Incorrect date setup can cause inaccurate calculations, reporting errors, and compliance issues.

Resolution

The details of your company dates reflect the following screens:

  • The Initial Entry screen (when you log into your company)
  • Period Info (BB) sub-screens on the Basic Company Information screen

The company dates also display when starting a new processing period. Always review these dates before processing a new period or month.

Processing week within the month (Initial Entry screen)

  • Must match Current Week Number on the Period Info (BB) screen.
  • Affects:
    • Accumulation of month-to-date (MTD) totals for reports such as EMP201 and 12-month reports
    • When a new calendar month starts and clears MTD values
    • Methods of Calculation using “When to effective” and WIM (Weeks in a Month)
    • Exports in the last week (for example, General Ledger, Council export)
    • Final tax calculation at tax year-end

Processing period within the tax year (Initial Entry screen)

  • Must match Current Processing Period on the Period Info (BB) screen
  • Affects:
    • Comparison with Bonus Period on the Employee Information (IS) screen for non-monthly companies
    • Normal and Job Costing batches
    • BCEA accumulations (RSA companies, WEK file)
    • Clearing of fields, files, and special totals in non-monthly companies

Tax year start date (Initial Entry screen)

  • Must match Tax Year Start Date on the Period Info (BB) screen
  • Affects:
    • Correct tax factor for calculations (with Tax Year End Date)
    • Employee IRP5 Start Date defaults to this date if Date Engaged before the Company Start Date

Tax year-end date (Initial Entry screen)

  • Must match Tax Year End Date on the Period Info (BB) screen
  • Affects:
    • Correct tax factor for calculations (with Tax Year Start Date)
    • Must align with the last period end date in the tax year

Current calendar month (Period Info BB screen)

  • Affects:
    • Accumulation for 12-month reports and History screen
    • Comparison with Bonus Period on IS screen for monthly companies
    • Clearing of fields and files in monthly companies
    • Final tax calculation at tax year-end (with Number of Weeks in Month and Processing Period)