Payroll Adjustment for EOFY and STP update

Options
940670
940670 Member Posts: 1 ✭
in Reckon Accounts (Desktop)

Hi I have an employee that we need to do an adjustment to their 2019/2020 payroll figures. I need to reduce their payroll by $30000 due to update from the accountant. The existing payroll figures have all been reported to the ATO via STP using Reckon GovConnect. How do I make an adjustment in the payroll for the negative amount as I am unable to create a negative payrun.

Comments

  • liz_10158906
    liz_10158906 Member Posts: 4 ✭
    Options

    is there an answer to this

  • liz_10158906
    liz_10158906 Member Posts: 4 ✭
    Options

    how to adjust payroll, need to put in a negative figure

  • Acctd4
    Acctd4 Accredited Partner Posts: 3,426 Reckon Accounts Hosted Expert Reckon Accounts Hosted Expert
    Options

    Unfortunately, it's not possible to create a negative or $0 Paycheque.

    Bear in mind that STP has reported actual payments. I would be curious as to why the accountant has requested this adjustment as, to be reducing an employee's income figure - by a whopping 30K - a year down the track sounds dubious if the employee has actually already received it 😲

    Shaz Hughes Dip(Fin) ACQ NSW, MICB

    *** Reckon Accredited Partner (AP) Bookkeeper - specialising EXCLUSIVELY in Reckon Accounts / Hosted ! ***

    * Regd BAS Agent (No: 92314 015)* ICB-Certified Bookkeeper* Snr Seasonal Tax Consultant since 2003 *

    Accounted 4 Bookkeeping Services

    Ballajura, WA

    shaz@accounted4.com.au

    https://accounted4.com.au

    (NB: Please give my post a Like or mark as Accepted Answer if I have been able to resolve your query as this helps others when seeking solutions!)
  • Kris_Williams
    Kris_Williams Member Posts: 3,303 Reckon Accounts Hosted Expert Reckon Accounts Hosted Expert
    Options

    If these wages have not actually been paid and have been offset to a loan or drawings account I believe you would have to go back and adjust a number of them to reduce by the 30000 and resubmit an update event for each of them, but the group tax could not be adjusted as far as I can see. The accountant should be on top of this throughout the year and possibly tell you how to do it.

  • liz_10158906
    liz_10158906 Member Posts: 4 ✭
    Options

    But you can do an adjustment at the end of the financial year? it that correct.

    How do you record an adjustment, ie. a negative figure

  • Kris_Williams
    Kris_Williams Member Posts: 3,303 Reckon Accounts Hosted Expert Reckon Accounts Hosted Expert
    Options

    You can in your accounting system but not in the payroll side of things now that STP is in place

Categories