Before you start
Reports shows when the Payroll or Books service is on. Accounting and Audit Pack need Books. If one is missing from your menu, open Settings › Services, tick Books and press Save services. Only the owner can do this.
See your figures by month on the Dashboard
Your accounting period is still the whole year. The Dashboard shows that year month by month, for owners and accountants. Press Dashboard in the menu, right under Overview (under More on a phone), or press Open the dashboard on the Overview.
It has a section for each service you have on: Sales and cash, Spending, Profit, Payroll, Time and By person.
- Under Dates, choose This month, Last month, This quarter, Last quarter, This year or Last year. For other dates, choose Chosen dates, fill in From and To, and press Show figures.
- Under Compare with, choose The period before or A year earlier. Each figure then says how much it went up or down, and the charts show the earlier period in grey. Choose Don't compare to leave it out.
- To narrow the figures, choose a Person, Team, Customer, Supplier or Project. Each section says what the filter changes. Profit is always for the whole business.
Press Clear filters to go back to this year. The page's address keeps your choices, so you can bookmark it or send it to your accountant. In Profit, press Profit and loss for these dates to open the full report.
Run a payroll report
Open Reports. Under Report, choose:
- Payroll Summary for gross pay, overtime, bonuses and deductions, with a line for each person;
- Earnings, Salary Statement or Benefits Summary for what you pay and how;
- Employee Deductions, Tax Summary or Tax Payment Summary for PAYE, NIS and Health Surcharge, by person or by month;
- Payroll Journal Summary for the payroll entries in your books, while Books is on;
- Activity Logs for the actions people have taken in PaySuiteTT and when.
Choose a View (Weekly, Monthly, Quarterly, Yearly or Custom dates), check the Start date and End date, and press Apply. On Payroll Summary, press Download CSV, Download PDF or Print report.
The reports count finalised and paid pay runs only. For one run's bank and statutory files, see Bank files, statutory exports and NI forms.
Find your way around your books
Most owners need only P&L and Balance sheet. COA, Journals, Trial balance and General ledger hold the detail your accountant works from.
Your books are the record of every amount coming into and going out of the business. They fill in as you work. An entry is added when you:
- post an invoice or a bill;
- record a payment or an expense;
- approve a pay run, and again when you mark it paid.
Open Accounting. The menu along the top has:
- P&L (profit and loss): your income minus your expenses for the dates you choose, ending in Net profit.
- Balance sheet: what the business owns, what it owes and the owner's share on a date. It says Balanced when the two sides match.
- COA: your chart of accounts, the list of accounts your money is sorted into.
- Journals: every entry in your books. A journal is one entry, such as a posted invoice.
- Trial balance: each account's totals for the dates you choose. Your accountant uses it to check that the books add up.
- General ledger: every line posted to each account, in date order.
- Periods: your accounting periods, open or closed.
On each report, choose the Period (or Custom dates with From and To) and press Apply. On the balance sheet, choose the As at date and press Show. Every report has Export CSV. Only posted entries are included.
Record an adjustment
Leave this to your accountant unless they give you the exact lines. They can also record it themselves with the Accountant role.
- On the Journals page, press New journal.
- Type the Entry date and a Memo saying what it's for.
- Add a line for each Account, with its Debit or Credit. When the debits equal the credits, the form says Balanced.
- Press Save draft. On the draft, press Post, then Post journal.
A posted journal is locked. To undo a posted journal, your accountant posts a new one with the same amounts on the opposite sides.
Close a period only when its books are final
Open Periods. The page is called Accounting periods and lists your periods, open or closed. Your first financial year starts as a single period, so closing it stops all posting for that year.
PaySuiteTT won't post invoices, bills, payments, payroll or journals dated in a closed period. To post into one again, press Re-open, then Re-open period.
Make an audit pack
Open Audit Pack. Choose the Start and End dates and press Generate ZIP. On the next page, press Download ZIP.
The ZIP holds:
- your trial balance, profit and loss, balance sheet, general ledger and journals;
- the PAYE, NIS, Health Surcharge and bank files for each approved pay run with a pay date in those dates;
- your VAT transactions, and the tax-form PDFs you exported in those dates;
- a list of the attachments added in those dates, and the activity log.
Earlier packs are listed under Recent packs. Press View to download one again.
Good to know
- Drafts aren't in your books. If a figure looks low, check for invoices, bills or journals still in draft.
What's next
Next, check your business details with Your settings at a glance.