Employee opening balances

I am creating a new file on Reckon Hosted for a business which was previously on a different software, what would be the best way to enter the wages already earned July to September? Includes jobkeeper also but I assume I won't need to use the JOBKEEPER START as that would already have been done previously.

Comments

Zappy

Put in the YTD figures as one cheque.

Kris_Williams

If you are going to use the payroll figures for payment summaries, as I would expect if you are lodging STP, I think you should process the pays, even as 1 total pay for the quarter, as wages in payroll section, not just as a cheque, or YTD figures in employees details

Zappy

Kris you dont need to do that. STP sends ytd figures.

Kris_Williams

Yes you are correct but the employee totals in Reckon Hosted will be incorrect for cross checking purposes, and I’m big on cross checking

Acctd4

I agree with Kris about having correct dates/cross-referencing however, you can specify the periods & pay dates in the YTD setup (just like a paycheque) but you do only setup ONE YTD summary per employee. Therefore - depending how often your pay run/STP is & your PAYGW/BAS reporting - you could setup the YTD for the first month (July) or quarter (Jul-Sep) then enter the pay or 2 since as actual paycheques. This way the YTD figures will balance with your reporting periods but it saves entering EVERY paycheque 😁

Zappy

Cross checking ??? Ploise exploin?

Kris_Williams

Always check my employee totals in whatever payroll program with totals in Gov Connect at least quarterly, and then Payment Summaries at year end.

‘Why - because I’m pedantic and need to check what other people are doing

Zappy

Hmmm. Okay. I guess some of are pretty busy.

Kris_Williams

I’m happier being busy and confident in mine and others figures

KarenAlice

Thanks for the input, I have entered the totals for July to September in one pay run and could then check the totals match the report from the previous software and all looking good.

Zappy

Happiness is an illusion Kris. Embrace the misery.

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