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John Dixon
Technology
Limited

Setting Up Static Data in Earnings Tracker

Note: You must be logged on to Earnings Tracker to be able to set up static data (values).

The static data functionality is intended to enable you to set up values that do not generally change on a monthly basis, for example, your salary will almost certainly remain the same for several months at a time, and the corporation tax rate may remain the same for several years. In order to avoid needing to set these values everytime you add a month to Earnings Tracker, you can set them up once and they will remain unchanged until you want to change them.

When you first register and log in you are asked to set up your static data before doing anything else.

Sometimes, after you have logged in, you are prompted to confirm these values. This happens when the application is used by multiple users on the same machine (not simultaneously). Earnings Tracker can recognise when the current user is different from the previous user, and prompts for confirmation of the values.

Caution: You need to remember though that the values you set up here are used by the software whenever you add or edit a month. So, for example, if you have the corporation tax rate set to 20 percent, that is the value that is used when you add a new month. If the rate should be 21 percent, the calculations performed by the software will be slightly wrong. To fix this though, all you need to do is set the corporation tax rate to 21 percent, open the month and save/update it. The calculations will then be redobne using the correct corporation tax rate.

To set static values:

From the menu bar, click Set Static Values.
Set up the static values.
Click the Update/Confirm Values button.

Gross Monthly Salary

Enter the combined monthly salary for all the employees in your company.

If you enter a salary of 0 (zero), it will be changed to 1 (one), which will be used in calculations.

VAT Rate (Percentage)

Enter the VAT Rate percentage, for example, 15, 15.00, or 18.5. Do not enter the percentage sign, that is to say, do not enter 15% or 15.00%.

VAT Flat Rate (Percentage)

Enter the VAT Flat Rate percentage, for example, 13 or 13.00. Do not enter the percentage sign, that is to say, do not enter 13% or 13.00%.

If you are not using the VAT Flat Rate Scheme, you can enter any value here and then just hide the VAT Payable and VAT Surplus columns when you view a spreadsheet.

Corporation Tax (Percentage)

Enter the current rate of corporation tax, for example, 21 or 21.00. Do not enter the percentage sign, that is to say, do not enter 21% or 21.00%.

Monthly Accountancy Fee

If you pay your accountancy fees monthly, enter the monthly fee here.

If you pay your accountancy fees annually, leave this field blank apart from when you add the month when you pay your fees. In that month, enter the full annual amount.

Monthly Rent

If you pay rent for the use of your desk or office, enter the monthly value here. If you are working from home, it may be that you charge your company a small monthly rent for the use of a desk in your home.

Financial Year

Select the default financial year to be used when, for example, you add a month or generate a report.

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