Payroll and end of service
When you run payroll, Kept records what you owe your staff before you pay them. It also records the end-of-service gratuity (the amount staff build up for when they leave) in your books.
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Payroll and the end-of-service gratuity are part of Kept today. Check the amounts they add to your books, next to your other costs and what you owe.
Status: Available now
Payroll records what you owe staff before you pay them. The end-of-service gratuity is recorded next to it. Both appear in your books and your financial statements.
Status: Available now
When a payroll run is complete, Kept records what you owe each staff member before you pay. The cost lands in the month the work was done. Until the payment goes out, the amount stays in your books as what you owe staff but have not paid yet. When you pay, the payment clears that amount, and the bank line is matched like any other.
Status: Available now
For each employee, Kept works out the gratuity built up so far, using the formula stored in its settings. It then updates the money set aside for what you will owe staff. The formula is not written into the code. When the rules change, the settings change with them, and earlier periods keep the rules that applied then. No figure from the law appears on this site.
Status: Available now
If you do not set money aside, the whole gratuity hits as a cost in the month someone leaves. If you do, the cost shows as it builds up. Your balance sheet (what the business owns and owes) shows what you owe your staff. And your financial statements give a truer picture of each year.
Status: Available now
Kept records each payroll run and its costs in your books. A person still checks the payroll run and records payments against what is owed.
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