Understanding Due Dates in Cintra IQ for Payment Runs

Introduction

In preparation for the rollout of the Cintra Cloud Bank Fire Portal, it's crucial to understand how to manage due dates for payment runs in Cintra IQ. This guide will walk you through the importance of setting correct due dates for both payroll and third-party payments. Whether you're processing an early payment, or a late supplementary payment, this article will ensure you have the correct steps to follow.

Key Concepts

• Due Date: The date when an employee or third party will receive payment into their bank account.

• Payment Run: A batch of payments that you create to process wages, bonuses, or other payments to employees or third parties.

Steps to Ensure Correct Due Dates in Payment Runs

1. Setting Up an Early Payment Run

If you need to pay a specific employee early, it's crucial to override the default due date to match the actual payment date. Here's how:

1. Create the Payment Run: When you create a payment run for a specific employee, Cintra IQ will default to the normal payroll pay date (e.g., 30th April).

2. Override the Due Date: If you're paying early, select the new due date - ensure it's the date the employee will actually receive the money. For example, if the payment is to be made on the 10th of April, adjust the due date accordingly.

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4. Authorise Payment: Once you've set the correct date, proceed with the normal steps to authorise the payment via Cintra Cloud and submit the FPS.

2. Handling Late Payment Runs (Supplementary Payments)

If you need to process a late payment run, such as a bonus or correction for an employee, ensure the due date reflects the actual payment date:

1. Create the Late Payment Run: When creating a supplementary payment run, Cintra IQ defaults to the normal payroll pay date. If the payroll date has already passed, you need to manually set the new due date.

2. Override the Due Date: For example, if you're paying a late bonus on the 1st of May, change the default date to reflect this. 

3. Authorise Payment: After updating the due date, authorise the payment via Cintra Cloud and submit the FPS as usual.

4. Handling Third-Party Payments

When processing third-party payments (e.g., payments to pension providers), it's important to verify that the due date is correctly set:

1. Edit the Payment Run: If you need to change the due date as a one off exercise, when creating a third-party payment run, you can now right-click to edit the due date for that specific payment run.

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3. Adjust the Date: For instance, if the payment is set for the 15th of April but needs to be processed on the 20th of April, simply adjust the date as necessary.

4. Check for System Recommendations: If the system suggests a different date (e.g., 17th April due to a holiday), follow the recommendation to ensure proper payment processing.

5. Authorise: After adjusting the date and confirming the changes, authorise the payment.

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5. FPS (Full Payment Submission) Considerations

• When paying employees, Cintra IQ automatically adjusts the FPS to match the normal payroll pay date, even if the due date is overridden.

Important Notes

• Banking Days: Cintra IQ will default to a banking day if the default pay date falls on a weekend or holiday.

• Penultimate Working Day Feature: Cintra IQ will soon introduce the ability to select the penultimate working day for payroll processing. Keep an eye on new notifications for this feature.

Conclusion

Properly managing the due date in Cintra IQ is essential for ensuring that employees and third parties receive payments on time. By following the steps outlined in this guide, you can avoid errors and maintain smooth payroll and payment processing.