Payroll EOFY procedures manual

Jody

Hi

I am new to this system for payroll and do not have any procedure manuals. Is there a manual for EOFY please? Mostly to see how to rollover YTD and update tax tables.

Thank you

Acctd4

Hi Jody

You've posted under Reckon Accounts Hosted (RAH) but have tagged the Payroll App - These are 2 completely different products so not sure which you're referring to ?

Under this RAH category .... There is no rollover required in Reckon Accounts (RA) / Reckon Accounts Hosted (RAH) - Monetary payroll amounts are YTD (so they reset automatically) & all leave automatically continues accruing (providing you've not selected otherwise!)

The tax table updates in RAH are updated by Reckon & are in the new version release each year (currently, 2023, HOWEVER there have been some bugs identified in the new STP2 Migration Assistant in 2023 so it is recommended to hold off on upgrading until a fix is released in the next week)

There are no changes to the standard tax tables for 2023-24, just on the HELP/TSL debt thresholds ☺️

Jody

Thank you,

We are Reckon Accounts - task bar header reads - Reckon Accounts Enterprise: 2022

Acctd4

My above info relates to that (Reckon Accounts & Reckon Accounts Hosted) 😊

Jody

Wonderful, thank you

So do I only have to process the Final STP for the year and that is all?

Acctd4

You submit the last pay run as normal & then lodge a Finalise Year submission:

"Finalising" is the equivalent of sending the old Payment Summaries/lodging the EMPDUPE file & just confirms everyone's annual totals 😊

TIP: Just make sure you select the correct file type when uploading it (otherwise the submission will return an Error):

Rav

Hi @Jody

Just adding to Shaz's info above, I'll add a couple of EOFY resources below which might come in handy for this time of year 🙂

HOW-TO VIDEO - End of Financial Year Finalisation with Reckon Accounts Hosted & Reckon Accounts Desktop 📅

https://www.youtube.com/watch?v=jsy9M_jj120

HELP GUIDE - End of Financial Year Finalisation with Reckon Accounts Hosted & Reckon Accounts Desktop 📄

https://community.reckon.com/discussion/8013418/end-of-financial-year-finalisation-with-reckon-accounts-reckon-accounts-hosted

Jody

Thank you for your help and information provided. I am just used to rolling over the year and uploading my own tax tables when I've used other systems and was worried when I couldn't find where those options where.

Cheers

Jody

Hi

I watched the video which shows how to create the STP file. Where and when do we enter FBT before creating the file? Also do we need to let you know we have finished end of year before you rollover year and update tax tables? Or is that automatically done on 30th June.

Acctd4

Hi Jody

"Reportable Fringe Benefit" amounts need to be added manually on a Paycheque (pre-April as per the Apr-Mar FBT year) by creating a new Payroll Item & entering the (grossed-up) value. NOTE: This amount needs to be obtained from your tax agent - who lodged the FBT return - & should be mapped to the applicable Fringe Benefits Tax Tracking Type:

It is recommended to complete the current FY payroll & Finalise Year in the existing (2022) version. Once you’ve done that, you can click on the new LAUNCH ACCOUNTS 2023 button to start accessing your file via the new 2023 version (containing the new tax tables):

😊

Jody

Okay, so its too late to enter FBT for the year now for the Reckon system or could I add it to my last payrun for the year on Monday? Usually FBT would be entered manually directly into individual payment summary in all other payroll systems I've worked in. Our other payroll system we have 3 payruns in still do it that way.

Acctd4

Hi Jody

Yes, it's a similar sentiment ... As long as you enter it on a 2023 Paycheque (that's dated 01/07/22 - 31/03/23) then it will be on this FY's Income Statement ("Payment Summary") 😊

Jody

So I create a payrun with a period of 1/7/22- 31/3/23 next week (on a different day from my last ordinary payrun for the year) and enter the ftb figures and submit that STP before running the final stp?

Sorry for so many questions, just want to clarify it as I have final year payruns on Monday.

Acctd4

Hi Jody

No, you don't need to create an additional Paycheque - just unlock an existing one (I usually use the last one dated pre-31/03) & enter the RFB on there ☺️

Jody

Another question, how do I unlock one please and close it? Sorry, I have no manuals and had no hand over from previous payroll officer and the system is alot different then other systems Ive used over the years.

Acctd4

The system automatically locks Paycheques when saving them to prevent accidental changes however every Paycheque has an the option to Unlock/Lock.

Just select the Unlock Net Pay radio button on the Paycheque that you want to edit & add the RFB Payroll Item & grossed-up amount to:

NOTE: When you "Unlock ..." a Paycheque - & if you try to edit one - you'll get this warning message:

Just click OK on that message 😊

Kris_Williams

In addition to Shaz’s very informative guidelines, I usually write down the details of the wages, gross tax and net and make sure they don’t change when you make your adjustment

Acctd4

It sounds like you would really benefit from some 1-on-1 specific training in RAH to help you navigate & get the most out of it for what you need ? If that's something you'd lie to consider, feel free to email me direct ☺️

RA/RAH is actually much more user-friendly, waaaaaaay more editable & has far greater customisation, search & reporting capabilities alone, than any of the others but any program is challenging if you're unsure how it works 😬

Jody

Thank you to everybody. I have found the unlock/lock payslip.

I do not seem to have the same version of Reckon going by screenshots above so cannot find the Launch 2023 icon. I thought perhaps the Services icon is equivalent to Settings but it will not connect to Reckon Web.

Acctd4

Hi Jody

Aha! You have the DESKTOP version of Reckon Accounts (RA) but have been posting your questions under the HOSTED (RAH) category 😬 (It's the same program but Hosted is accessed online, hence the "Launch ..." button links posted previously)

For the desktop version, you need to download & install the new 2023 version of RA from the link. You should have received the link via email. Alternatively, you can login to the members area on Reckon's website & download it from there.

Once installed, you then open the new version & Open your Company File in it. You will need to know where it's stored on your computer to be able to locate it. RA will then advise your file is in an older version format that the new program you've opened & will prompt you to update it to (be compatible with) 2023 ☺️

Jody

Thank you. I did not get an email so will check online. I take it I need to be in single user? We usually are in multi use as a few of the accounts team use the same system at the same time.

Jody

This is the only other login I have for Reckon. Where would I find the 2023 update?

Kris_Williams

No you have to logon to the Reckon members site using your Reckon member number and password. In there you will find a download section.

members.reckon.com

Jody

Thank you Kris, I just spoke to our Companies 2IC and they believe IT maybe the only ones with access to that site.

Rav

Hi Jody

Just adding to the super helpful advice already provided by Shaz & Kris above, check out the post linked below for more info on the 2023 version including an installation & upgrade guide which you might find useful when you're ready to make the transition -

https://community.reckon.com/discussion/8033419/reckon-accounts-desktop-2023-is-now-available

Jody

Just wanted to Thank every body for their help. I have now finished and run the STP Phase 2 migration assistant ready for Mondays Payruns.

Acctd4

Good to hear Jody! 👌

Rav

Excellent work Jody! 👏