Reckon Accounts Business (Desktop) - New Tax Tables

RECKON ACCOUNTS BUSINESS (DESKTOP) - OCTOBER TAX TABLES

The Government announced changes to personal income tax thresholds for the 2020-21 income year in the 2020 Federal Budget. Changes to income tax tables took effect from 13 October 2020.

Reckon Accounts tax update

We have released a new tax patch of Reckon Accounts that includes the updated 2020-21 ATO PAYG tax tables. You must install this update to remain payroll compliant for the 2020-21 financial year.

Prior to installing, please read the Installation & Upgrade Guide below.

https://help.reckon.com/article/shcqfss1jl

Click HERE to download and install the new tax tables for Reckon Accounts Business 2020 (Desktop)

Note: The new tax table calculations will apply to payments made on or after 13 October 2020. Ensure you process employee pays for up to 12 October 2020 prior to installing this update; otherwise the pay calculations may not be correct. Find out more about the 2020 October tax update here.

UPDATE - 21/10 4:07pm

Hi everyone,

Just a quick update, the tax table update for Reckon Accounts Business 2020 above has been temporarily removed while our teams work out an issue that has become apparent.

The team identified an issue with PAYG calculation under the two specific scenarios;

TFT not claimed and the employee earns between $371 and $514 per week

STSL (Help and/ SFSS) with TFT not claimed and the employee earns between $371 and $514 per week

We are working through rectifying this as we speak and soon as its resolved the update will be re-released and I'll have more info to follow on this.

UPDATE - 22/10 1:05pm

A new version of the October tax table update for Reckon Accounts Business 2020 has now been released and is available. I've re-established the download link above so you can click through to it.

If you had installed the previous update, this new one can be installed over the top of it.

For step by step instructions on how to install the tax table update, please see our guide above.

Comments

Trevor F.

Hello Rav - the update says its for 2020 R2 - how do you know if you have R2 installed as when I installed in June it was R1 in the install file.

Thanks Trev.

Update: Just saw a previous post of yours saying press ctrl-1 and an info box comes up! Im on R2 - thanks

Rav

Hi @Trevor F.

When you have your company file open, press Ctrl and 1 and you'll see a product information box open up which contains the full product name.

You can also view your current tax table by going to Employees - Tax Table Information - Tax Table Info

Trevor F.

Thanks Rav!

Appreciate the reply

Rav

UPDATE 21/10 4:07PM

Hi everyone,

Just a quick heads up, the tax table update for Reckon Accounts Business 2020 above has been temporarily removed while our teams work out an issue that has become apparent.

The team identified an issue with PAYG calculation under the two specific scenarios;

TFT not claimed and the employee earns between $371 and $514 per week
STSL (Help and/ SFSS) with TFT not claimed and the employee earns between $371 and $514 per week

We are working through rectifying this as we speak and soon as its resolved the update will be re-released and I'll have more info to follow on this.

Sue_10075371

Hi Rav

I uploaded the new tax table yesterday and did the pays today. Everyone's tax was reduce by about $20 EXCEPT for one person - she only received a $1 reduction. She is part-time; usual gross is $615.60; usual tax is $62; new tax is $61.

This does not make sense. Any help appreciated.

Sue

Rav

Hi @Sue

Can you give me the full breakdown of this employee's pay/tax setup in Reckon Accounts Business and I'll take it to our Product Manager.

Kris_Williams

That is the amount on the ATO tax withheld calculator

Sue_10075371

Hi everyone

I'm using Reckon Accounts Plus 2020

Hi - not sure what you need. Hope it's all in the attached file.

Cheers, Sue

~ 12:04pm Admin edit: Removed file attachment

brownyville

Is there any outlook on when this link will become available?

Cheers

Mandy

WGGKindy

Hi just trying to download the new October Tax to my Reckon Accounts Plus 2020 and I already have the R2 version for 20/21 tax year - but everytime I press the link for the October upgrade it says it's not available. Anyone help me here please?

Rav

Hi @brownyville

We've got a new release going through final testing at the moment. I'm just waiting to hear on details for release following the results of their tests but we're pretty confident at this stage that it will be available today.

@WGGKindy

Check out the update in the opening post or a little further up here.

Rav

@Sue what is the tax amount that you expect to see for this employee? Does this particular employee have the EXACT same tax setup and pay period as your others that have had a larger reduction?

Rav

Hi everyone,

A new version of the October tax table update for Reckon Accounts Business 2020 has now been released and is available. I've re-established the download link in my opening post above so you can click through to it.

If you had installed the previous update, this new one can be installed over the top of it.

For a step by step guide on how to install the tax table update, please click the button below.

https://help.reckon.com/article/shcqfss1jl

Really appreciate your patience and apologies for the hassle it may have caused.

Sue_10075371

Hi Rav

This employee has the EXACT same tax setup and pay period as our other employees. I expected to see her tax reduce to about $42 as all the other employees tax reduced by $20-21. Her tax pre October was $62.

Cheers, Sue

Kris_Williams

When I look at Reckon One, Reckon Hosted and the ATO weekly tax payments, they all say the same $61 for Gross 615

Sue_10075371

Hi Kris

Yes, I just finally found the downloadable copy of the Weekly tax table from 13 October 2020. It appears that this employee doesn't get a similar reduction in tax - just $1 (as per your comment, Kris). Looks like she slid to the bottom of the sliding scale.

Thanks for everyone's help.

Cheers, Sue

alexuren

We've noticed that all of our YTD figures have reset to zero after applying the update last week - is anyone else seeing this? We apparently had a similar reset issue a long time ago and needed to rebuild 3 times (on Reckon's advice) so will be trying this but our rebuilds are very slow so we won't know for a while if this works

Carmel Clarke

My Reckon Accounts premier Desktop files are so slow to open since upgrading to the new tax tables. Any thoughts? Seems to be accross all company files even the small ones.

Acctd4

@Carmel Clarke Have you run the "Verify" & "Rebuild" utilities on the Company Files? Even if there are no errors detected, running the Rebuild x 3 can often fix numerous file issues.

Re-sort all of your Lists by going in to each one & clicking on View (along top toolbar) > Re-Sort List

(TIP - To Re-Sort Name Lists together: Open a "Write Chq" & tab to the "Pay to the order of" field then click Ctrl + L on your keyboard to open a single List containing ALL names eg Customer, Supplier, Employee & Other)

Carmel Clarke

Thanks Shaz,

I have done the Verify & Rebuild on the main file I use to not much difference ( I think I had already done this when the issue first started) - btw is the file size supposed to get bigger each rebuild?

Acctd4

@Rav I don't have a lot to do with the technical side - Suggestions for @Carmel Clarke ?

Rav

Hi @Carmel Clarke

We've got a few tips on how to get the best performance out of your file which I'll link to below. I'd work through the list where relevant in terms of your work setup and in particular, I'd recommend creating a portable company file which is also outlined in the guide.

https://help.reckon.com/article/raxkcjai2w-kba-3793-how-to-improve-the-performance-of-your-qbi-company-file