BACS 2020 processing calendar available to download
22 October 2019
BACS.co.uk, part of Pay.UK has published the BACS 2020 processing calendar for individuals to download to assist them in scheduling payments for the calendar year 2020. BACS payments currently take three working days to clear and appear as available funds in nominated bank accounts so the calendar is crucial in preparing for this.
The calendar identifies processing dates, which is particularly important during periods where pay dates are affected by weekends or bank holidays, so payroll teams may want to place specific focus on holiday periods, such as Easter and Christmas.
The schedule can be downloaded in PDF format and contains an additional sheet that provides important information surrounding the processing of BACS. The advice given is to ensure that any payroll and payment software registers BACS non-processing days. It is also recommended that all staff affected by and involved in the processing of BACS are issued with a copy of the schedule so that they are aware of the key dates to be observed. The guidance also highlights how payments can be submitted up to 30 days in advance of the processing date (the working day prior to payment date). If this option is not available then the recommendation is to submit the payment as early as possible on input day.
The BACS 2019 processing calendar is also available should guidance for payments due in the current calendar year be required.
Information provided in this news article may be subject to change. Please make note of the date of publication to ensure that you are viewing up to date information. Download the CIPP's Payroll: Need to know - your guide to payroll legislation and reporting for the most up to date data.