Add New Company - Opening Balance

Opening Balances tell KashFlow Payroll what the Year-To-Date figures were before you started using KashFlow Payroll. You only need to enter in the company 'Opening Balances' if you are moving across to KashFlow Payroll mid-year. 

Before you finalise the first pay period through KashFlow Payroll
It is very important that you enter in the the correct Year-To-Date figures on KashFlow Payroll, as this will indicate the software how much has been recovered from HMRC for statutory leave and 'Employment Allowance

These figures can be found in your previous Payroll software.

Zero Values

Opening Balances can all be zero if

1. you did not have any employee who was on statutory leave.
2. your Company is not eligible for Small Employers Relief (as there wouldn’t be any compensation or recovery figures in the first place)
3. you did not process any payroll for this Company earlier in the year (ie you are a new Company and have not paid anyone before)
4. you start using KashFlow Payroll in the first week or month in April (the easiest time to start using a new payroll system)
5. you have not claimed any 'Employment Allowance' 

IMPORTANT: this section must be completed with correct figures (if applicable), in order to avoid reclaiming the figures twice from HMRC.

You should now have set up your company in KashFlow Payroll successfully.