How can I process a payrun in the Reckon STP app that includes a Lump Sum E component?
It shouldn't show in Gross Payments, but i can't see any other options.
Do we have an answer to this question please?
I am having the same problem
In Reckon Payroll app you are able to create Custom earnings items. This is possible to add in the Settings function. It also allows the selection to calculate tax and superannuation on this earning type. I am guessing you can call this " Lumpsum E".
But I don't know how this will show up in the Employee's Income statement. Most likely as Gross Earnings which does not help you directly.
I understand according to ATO instructions, the payer has to issue a Letter to the employee detailing the Lumpsum E payment involved and the year (s) to which the arrears payment applies unless the amount is less than $400. At time of filing the annual tax return the employee has to ensure the payment is correctly entered for the relevant year(s) to avoid overpayment of tax in the current assessment year.
Thank you Swakhlu01 this confirms that I have been going in circles and I will now write a letter.