It is a requirement for all companies who have employees on their payroll to submit a monthly FS5 to the Commissioner for Revenue.
If your payroll frequency is on a non-monthly basis, or if you have multiple payroll frequencies, you will need to assign payrolls to an FS5 month in order to generate a maximum of twelve FS5s within one year. In order to do so, you may use the FS5 wizard.
You need to ensure that you have the Manage payroll permission and the Generate employee FSS documents permission.
Setting FS5 month upon payroll creation (for non-monthly payrolls)
If your payroll is done on a monthly basis, then each payroll will automatically be assigned to the corresponding month's FS5. So, if say you were working on the May payroll, such payroll will automatically form the contents of the May FS5 (without the need to do anything from your end).
Where the payroll is not done on a monthly basis, then there is an additional step to be taken. On creating a non-monthly payroll, you will be asked to identify the FSS month - that is, the FS5 month to which this payroll should be linked. By default the system will take the month in which the end date of the payroll falls.
In case you're not sure with which month to add your payroll, do not worry. The next step will show you how to use the FS5 wizard.
The FS5 wizard will allow you to link payrolls to an FS5 month and generate the FS5.
To do so, follow these steps:
- Go to the Payroll section;
- Click the Generate button;
- Click on FS5;
- Select the month;
- Click on the unassigned payrolls in order to attach them to an FS5 (if there exist unassigned payrolls);
- Carry on with selecting another month and repeating the process;
- When you’re done, click save
You may edit the linking at any point, by repeating the above steps. You will need to re-generate the FS5 if there is any change in linking.
In order to generate the FS5, you can then simply click on the generate button from the wizard.
You may also add the FS5 receipt number by following the steps above and clicking save on the wizard dialog (note that this can be done later after obtained the receipt number).
Before downloading the FS5, you may choose whether or not to generate the document with rounded figures or not. To do so, click generate FS5 for 'month'. You may then switch on the 'report unrounded figures' button:
By default, FS5s are rounded for FSS submission purposes. Should you wish to reconcile your FS5 to the payroll report to the nearest cent, then you will need to generate the unrounded option.
Once you are satisfied, click generate.
What if my December payroll overlaps with January?
For non-monthly payrolls, you might encounter a scenario where the last payroll of the year overlaps January (i.e. from one year to the next). In this case, the payroll will automatically be added to the FS5 of the year which the pay date falls under. So if you create a payroll from 27th December 2022 till 9th January 2023 (with the pay date being the 9th of January), then this payroll will automatically be added to the January 2023 FS5.
To unlink this from one year and put it to the next one, make sure you are in 2023, go to Generate -> FS5s, select January and untick the payroll. Then click on the month, go to 2022 select December. Click save.
Generating an FS5 for periods with no pay
Should you encounter a payroll period where none of your employees are paid, you will still need to generate and submit the monthly FS5. To generate such an FS5, you will need to create the payroll. Then, without adding any employees, go back to the payroll section and click on reports and FS5s, and generate the FS5.
From the payroll page you will also be able to download the FS5 Report. This report contains the data of the FS5s for the supplied date range and business units. This can be downloaded in PDF or CSV format.
For information on how to submit the FS5 to the Commissioner for Revenue, click here.