Help with closing out 2016/2017 payroll?

Hi, I am confused with how to close out the 2016/2017 payroll. The last pay period was 26Jun-02Jul. As the pay was processed in July, should this be included in the 2017/2018 payroll? Apologies if this seems like a silly question, it is my first EOFY using Reckon.

Thank you,
Alicia

Comments

John G

Hello Alicia,

Thanks for asking.

The ATO defines the pay as earned on the date it was Paid, regardless of the period of work. Your latest pay run being paid in July is your first pay of the 2017/18 financial year.

regards,
John

Alicia Milverton

Hi John, Thank you so much for responding, I really appreciate your help. Kind regards, Alicia