Following final payrun do I upload two STP files ie. normal Pay Event first & then the 'Finalise' ..

Kyle
Kyle Member Posts: 35 Reckoner Reckoner
edited June 2020 in Accounts Hosted
After processing my final payrun for June at the end of this week, do I -
- upload the STP as a normal Pay Event first and then upload another STP for 'Finalise' straight after... or
- just upload the 'Finalise' stp file only straight after my final pay? 
Also, should the upgrade be done after the 'Finalise' or before?

Comments

  • Bruce
    Bruce Member Posts: 444 Professional Partner Professional Partner
    edited June 2020
    two files
    - regular STP only includes people who were paid in the current pay run
    - finalise STP file includes anybody who was paid during the year
  • Janine_10718507
    Janine_10718507 Member Posts: 2 Novice Member Novice Member
    edited June 2020
    How do you check the YTD figures are correct for each employee before lodging Finalise STP?
  • Bruce
    Bruce Member Posts: 444 Professional Partner Professional Partner
    edited June 2020
    Having loaded finalise STP file into GovConnect, but before you actually lodge the file, you can drill down and see the detail which you can use to reconcile with your other records.   Once you have completed your reconciliations you can then complete the lodgement
  • Janine_10718507
    Janine_10718507 Member Posts: 2 Novice Member Novice Member
    edited June 2020
    Thanks :) 
  • Steve Varrasso
    Steve Varrasso Member Posts: 12 Reckoner Reckoner
    edited June 2020
    Are these files run one after the other or can they be run days apart?
  • Bruce
    Bruce Member Posts: 444 Professional Partner Professional Partner
    edited June 2020
    They can be run days apart.  This is also my preferred approach as it gives me time to ensure that they June STP has been accepted by the ATO
  • Steve Varrasso
    Steve Varrasso Member Posts: 12 Reckoner Reckoner
    edited June 2020
    Should the Final be run before the first pay run in July?
  • Bruce
    Bruce Member Posts: 444 Professional Partner Professional Partner
    edited June 2020
    I don't believe that is a requirement, but I will stand corrected.   

    Reason for forming this view is that ATO doesn't require STP finalisation until 14 July (>20 employees) or 31 July (< 20 employees) and there is a fair chance that there will be a July pay event before these dates.

    Having said this, my preferred approach is to have the STP finalised as soon as possible - the quicker this is done, the quicker employees can commence their tax returns.

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