PAYING WAGES IN ADVANCE

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Jenny Byrne
Jenny Byrne Member Posts: 61 ✭✭
in Accounts Hosted

Can I have some help with paying wages in advance by a week and the implications with STP which is happening next Wednesday

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

    STP submissions are intended to be lodged in line with every pay run - either before (which I would never recommend!) or within 24 hrs after. Therefore technically, you would lodge an additional STP submission for that advance pay in between your (usual?) STP pay cycle (eg Wednesday)

    In reality, because STP reports (updates) year-to-date balances each time - provided the employee that you are paying in advance will still be being paid in subsequent pay runs - their advance pay figures will get included then anyway.

    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!)

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