Adding Employees – Opening Balances Step 8

Adding Employee Opening Balances

The Employee Opening Balances tell KashFlow Payroll what the Year To Date figures were before you started using KashFlow Payroll, so you only need Opening Balances once for the Year that you start using KashFlow Payroll and only if the employee was paid by you earlier in the year.

It is important to enter these Opening Balances from your previous payroll system before making a Payslip for the Employee because the Opening Balances may affect the Tax and National Insurance Contributions (NICs).

Opening Balances can all be zero if

your Employee is simply a new starter (and therefore was not paid by you earlier in the year)
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)
you start using KashFlow Payroll in the first week or month in April (the easiest time to start using a new payroll system)

Previous Payroll

If you have paid this employee before please enter the Employee Reference used by your previous payroll system. This will help HMRC to match this employee in the first RTI submissions that KashFlow Payroll makes. Note that you will only see this field if you indicated during employee setup that you had paid the employee before.

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