If you are using the Sage 50 P11D, for the employees’ tax benefits then you will come across the three different types of the Medical Insurance window. Here are three different types of medical benefits that are listed below:
Medical Insurance: you can now easily enter the detail for the insurance policy which has been taken by the employer on behalf of an employee.
Medical and Dental: Employees can enjoy the benefits of this for a medical or a dental treatment. The payment will be made by the employee or the employee will have to pay and the reimbursement will be made by the employer later on.
Medical Insurance Groups: There are circumstances when the employees working in a company, most of them have taken the same insurance policy. So, employees rather than entering the details individually can go for the Medical Insurance Group option. Now, you can easily calculate the employees’ chargeable benefits without creating separate medical insurance records.
Here are some steps through which you can easily complete the Medical Insurance window:
- Open the Sage 50 P11D.
- Go to the Employee options.
- Click on Benefits and then select the Medical Insurance.
- In case, you are creating a new benefit record, then click New.
- Fill the details and complete your (employee’s) Medical Insurance window.
- Click on Save.
- Go to Close option to close your window.
Below is the detailed information on how to complete the Medical Insurance Window.
Important: If the employee is assigned to a medical insurance then the specified medical insurance will be mentioned on his/her form P11D. Then there won’t be any need for making an entry in the Medical Insurance window.
- Open the Employee List and select the employees.
- Go to the toolbar and click on the Benefits > Medical Insurance.
- Complete the Medical Insurance window:
- Commenced Date
- Cessation Date
- Days in Insurance Period
- Annual Premium
- Class 1A
- Employee Contribution
- Amount PAYE’d
- Now, save your record by pressing the Save option.
- Chargeable cost and P11D cost will be displayed in the Medical Insurance windows status bar.
- Press the Close option to go back to the Sage 50 P11D desktop.
The steps are used when you want to complete your Medical Insurance window using Sage 50 P11D. You can see the quick steps as well as the detailed steps to complete your window. If you have any queries while filling the form or you need more information regarding it, then you can contact the “RemoteAccounting247” for your aid. They are Sage third-party consultancy who provides round the clock Sage services globally. If you want to reach out to them, then you need to call on Sage toll-free number +1-800-961-6588 or you can also visit our website and request for Sage online chat support.