Adjusting Wages Error from a previous financial year - HELP :( :( :( :(

Dear Community,

I am officially tearing my hair out. Can anyone please help?

I need to fix my STP reporting from last financial year, as the amount inputted for one of my staff is incorrect, due to an accounting error.

I have called the ATO who have advised these steps:

STEP 1. Remove “finalisation indicator – however I cannot find this on the App. Does this have something to do with the finalisation declaration for the end of the financial year? Can anyone advise the steps needed to find this in the app?

STEP 2. “UPDATE an EVENT” . However this terminology is nowhere to be found on the app. Would this be “New Adjustment”?

I have looked for advice on the Reckon website without luck. I had three employees for the last FY and I see in one help thread that the ATO is accepting paper summaries for the last FY. People have said send the amended summary statement to the ATO. Is this true?

I also can't find the transaction ID for my Reckon App, which I need to complete the process. Is this the same as the software ID?

Regards, Gwendolynne

Comments

  • RavRav Administrator Posts: 10,894 Administrator

    Hi @Gwendolynne Burkin

    Based on some of what you've outlined, it sounds like you might be using an older version of the STP app. My first recommendation to you would be to update to the current version which is currently v1.13.5, check your app store for any available updates.

    After that is done, it should be pretty straightforward to fix up.

    Go into your EOFY2019/20 report in the app and note down the figures its showing for each employee. If they are incorrect which you've already mentioned they are, then go out of the EOFY report and create an Update Event in the app for each employee to bring their balances in line with what they should be reality.

    To create an Update Event in the app, click the blue + symbol and select 'Update Event'.

    Example: if the Pay Summary section/EOFY Report in the app is showing $5000.00 gross pay for employee John Smith whereas in reality it should only be $3000.00 then the update event you create for employee John Smith is -$2000.00 gross pay.

    IMPORTANT: If you are updating balances in the previous 2019/20 financial year, then ensure you date your update event as 30 June 2020 or some other date in the previous financial year.

    There is more info below on how to create and use an Update Event -


    Once you have done the necessary corrections, go back into the EOFY 2019/20 report and you will notice the figures are now correct there. 

    Send through the EOFY finalisation. When you do, the EOFY Report will OVERWRITE any and all balances that the ATO received PRIOR to that. This way you know that you're sending through the full & final correct YTD figures for each employee.

    The EOFY process is outlined in this help guide. Please refer to it -


  • Gwendolynne BurkinGwendolynne Burkin Member Posts: 4

    Thank you Rav,


    I really appreciate your help. The ATO was not helpful. Indeed I DID need to update my Ap. I need to work out all the figures on my super still before I do an event update but hoping it will be smooth sailing with all this information.

    Really very grateful.

    Warmly

    Gwendolynne

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