Advances & Pensions

Thanks, Beth.

Create the advance bill as you would you would any other payroll bill insuring to make all the necessary deductions that would be made when running payroll i.e. pensions, insurance etc.

Dependant on the terms of repayment this will then determine how this is then recognised on the future payroll. Generally, this will be recognised in equally spread deductions from pay over the remainder of the tax year repaying the advance.