PAYING WAGES IN ADVANCE

Jenny ByrneJenny Byrne Member Posts: 12 ✭
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

Comments

  • Acctd4Acctd4 Accredited Partner Posts: 993 ✭✭✭

    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 * Regd BAS Agent (No: 92314 015) *

    ICB-Certified Bookkeeper * Seasonal Tax Consultant since 2003

    Accounted 4 Bookkeeping Services

    Ballajura, WA

    0422 886 003

    [email protected]

    https://www.accounted4bs.com/

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