Accuring a Bonus Payment

Barbara Allen-Guthrie
Barbara Allen-Guthrie Member Posts: 107 ✭
in Reckon Accounts (Desktop)

I have an employer who asked me to enter accured bonus payments for period ending Mar 2023 and they intend to pay them in April 23, but want to see them in March reports.

I entered them as 28.4.23 in Payroll but of course they don't show in the March 23 report.

I am worried that if I enter them in March 23 then they will carry through on the STP report.

Not sure what I am supposed to do to get this right?

Answers

  • Kris_Williams
    Kris_Williams Member Posts: 3,062 Reckon Accounts Hosted Expert Reckon Accounts Hosted Expert

    Can you do a journal dated March, do the reports and reverse the journal in April and then pay them in April

  • Acctd4
    Acctd4 Accredited Partner Posts: 2,975 Reckon Accounts Hosted Expert Reckon Accounts Hosted Expert
    edited April 2

    You should explain to your employer that Payroll is always on a Cash basis (rather than Accrual) meaning it reflects as per payment date on internal reports, for ATO reporting & via STP. Creating GJs to impact this isn’t recommended - it creates additional, unnecessary work & throws out balances which can be easily overlooked & cause issues down the track 😬

    If he really wants it reflecting in March, tell him to pay it on 31st!

    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

    [email protected]

    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!)
  • Barbara Allen-Guthrie
    Barbara Allen-Guthrie Member Posts: 107 ✭

    Thank you both, appreciate that :-)

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