Spring is here and with it comes fresh new features here at Pento. We’ve been busy throughout February developing new ideas to continue helping you to simplify your payroll. Now we’d like to share some of what we’ve been working on.
We know how crucial it is to process payroll correctly and that many companies need formal approval flow as well as an audit trail. So now you can set up approval flow in Pento, and select who you want to approve payroll before it goes out. And we’ll keep a record of who approved to go back to when it’s audit time.
To set this up, just head to the ‘Payrolls/Approval flow’ screen to turn on the function and then select the users you want to approve payroll going forward.
If you realise one of your approvers is off one week, it’s no problem. You can remove them from the list and add another user instead. Pento will update the list in realtime and keep a record of who provided approval on a given month.
You can even track the status live. And if any users reject the payroll then the flow is reset.
Coming soon: email notifications for approvers.
The new tax year is fast approaching and in preparation we now have the option to payroll benefits in Pento.
Introduced in 2016, payrolling benefits allows you to charge employees tax on their benefits in kind via monthly payroll. By doing this month by month, you avoid a one-off lump sum at the end of the tax year. It also means you don’t have to report these benefits on the P11D reports you give your employees at the end of the tax year.
If you want to payroll benefits in 2021-2022, first you need to register with HMRC via their online service before the start of the new tax year.
Then, once the new tax year has begun, you simply add or update the taxable employee benefit in Pento and set the tax method to ‘PAYE (payrolling benefits)’. We’ll add the taxable value of the benefit to each month’s payroll as a notional value, so that it affects income tax but won’t be added to net pay. This will also appear on your employee’s payslip.
We understand how important it is that you can verify that all payments were processed successfully. And so we’ve developed a new payments page to make it even easier to check. Here you can see all past and scheduled payments to HMRC and your employees, including individual net payments to employees, and check their status.
We’ve heard your feedback and have exciting developments in the pipeline, which we look forward to sharing with you soon. In the meantime, we’d love to hear your feedback on these updates so please reach out via chat.