End of year finalisation (STP)

Jess
Jess Member Posts: 2
edited September 2021 in Reckon Payroll App

Hello,

I successfully imported my data from the old STP app to the new Payroll app, and am trying to complete my STP end of year finalisation for 2020-21. However, the total amount of super is only showing the amount of Super Guarantee when I look at the overall employee summary / when I try to do the end of year finalisation. Can anyone please help me with fixing this issue, so that the Salary Sacrifice amount is also included?

Also when completing the STP end of year finalisation it seems to only have a field for the total superannuation paid, is there a way to differentiate the amounts paid for Super Guarantee/Salary sacrifice?

Comments

  • Joseph Li
    Joseph Li Member Posts: 503 ✭✭

    There is no need to setup ‘Salary sacrifice for super’ in initial YTD. When total amount of super is greater than the statutory SG amount, the difference would be shown as RESC in income statement.

  • Jess
    Jess Member Posts: 2

    Thanks for your reply Joseph.

    In the initial YTD it makes me select Salary sacrifice or Super guarantee when entering the superannuation amounts, otherwise I would have to enter it all as Super guarantee. In the future though I also want to fix this problem so that the amounts I enter as Salary Sacrifice for super are included in the total super amount. I'm not sure why it is not being included in the total superannuation amount?

  • Joseph Li
    Joseph Li Member Posts: 503 ✭✭

    If there is a valid salary sacrifice agreement in place you should do it in pay run.

  • swakhlu01 .
    swakhlu01 . Member Posts: 429 Payroll App Expert Payroll App Expert

    A bit of caution here. Not sure if the old STP split the reporting of superannuation contributions between SGC and RESC. I believe irrespective of the amount everything was reported as SGC. If this data has been migrated across as such into the Payroll app, it might still be reported as SGC through EOFY report , unless the Employee Initial YTD summary for 2020-21 for adjusted between the two parts of super before running the EOFY report finalisation.

    An easy test might be to view the actual employee 2020-21 Income statement in the ATO MyGov to see how this has been reported by STP app.