Early Termination Payment - Payroll Iten

Hi Everyone,

I've setup the Payroll Item as below

I've gone to make the final payment for the staff member but the Early Termination Payment payroll item isn't an option to select

What am I doing wrong?

Also, Is there any issue reporting this information with my next STP cycle and Government PAYG?

Thanks in advance

Accepted answers

All comments

Acctd4

Hi @blairmuller

You've created it as an Addition-type Payroll Item - These ones are in the next box down:

blairmuller

OMG. I'm so sorry. It's been a long EOFY, Thanks a Million

Also, Is there any issue reporting this information with my next STP cycle and Government PAYG?

Acctd4

No problem at all @blairmuller 😊

Regarding the reporting, STP doesn't report specific pay run totals but rather just updates/overwrites the YTD balances each submission. Was this Lump Sum A paid last FY (pre-01/07) or this week ?

blairmuller

Thanks Ballajura,

There wasn't any.

Because it's taxed at 32%. Do I just override the PAYG amount or I have set something up wrong?

Acctd4

Not too sure what you mean by " ... there wasn't any ... " ?

Yes, the PAYG there needs to be manually overwritten 😊

blairmuller

Thanks.

Sorry what did you mean by Lump Sum A?

Also, just to double check, reporitng to the Government on STP can wait until the next cycle?

Acctd4

@blairmuller You've mapped it to Lump Sum A for Redundancy - Is that what you intended ?:

For reporting, it depends when it was paid - If it was last FY, you need to ensure it's included in your 2022 STP Finalisation. If it's this FY, that's fine.

blairmuller

Sorry about that. Yes. It was paid out this Finanical year. Not last.

Acctd4

@blairmuller I would do a stand-alone (normal Pay Event) STP submission for it then 😊

Once the employee has been "Terminated", they no longer appear in the list so their payroll doesn't get reported in the STP file automatically, until Finalising.

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