STP final pay event

I've just posted my first STP which included a terminated employee. When I had a look at the employee detail list, it has YES in the Final Event column for the terminated employee.

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Does this mean I don't have to do anything else?

Comments

Rav

Hi Dianne,
Yes you've done exactly what you need to for a terminated employee.
I'll add a link below with a bit more general info on Final Pay Events in Single Touch Payroll -
Final Pay Event

Dianne Metcalfe

Thank you - that wasn't nearly as difficult as I thought it would be.

Sue_10075371

Hi Rav
I've just posted my first STP which included a terminated employee. I read your instructions first, making sure that the employee's release date was recorded before I processed the STP. But when I had a look at the employee detail list, it has NO in the Final Event column for the terminated employee. So what now? Sue

Hglass

Hi Rav

l have also only just done all this for the first time, and as Sue said did the termination process through Reckon Hosted. Just checked the details on the STP file done and still says No in the Final?
Have l done something wrong .... ?
Thanks
Jazz

Heidi Neumann

Hello,

what happens with an employee made redundant? Will this flag as final event?

Acctd4

Hi Heidi

The “Final Event” classification is automatically flagged as a result of having a “Release Date” entered in the Employee record, rather than the type of termination.

Ideally, you want to go through the “Terminate Employee” wizard (Right-click on Employee Name to select from pop up menu) but you can just enter a date in this field manually.

Shaz Hughes Dip(Fin) ACQ NSW, MICB

Reckon Accredited Professional Partner Bookkeeper / Registered BAS Agent (No: 92314 015)

Accounted 4 Bookkeeping Services

Ballajura, WA

0422 886 003

shazinoz2@bigpond.com

www.accounted4bs.com

Sue Renouf

I have an employee with a final event saying YES as I had entered the release date in the employment record back in March. However, the accountant has advised I need to add FBT to the employee record.

Do I do an Update Event and then a final Finalise Year STP lodgement? I believe the latter is when the FBT amount shows.

Regards,

Sue Renouf

Acctd4

It doesn't really matter - You can do an Update Event if you want to or, wait until you finalise after EOFY as as it's the Finalise Year process that changes the YTD status to "Tax Ready" 😁

Sue Renouf

Thanks Shaz. Appreciate your reply.

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