Early Termination Payment - Payroll Iten

blairmuller
blairmuller Member Posts: 62 Reckoner Reckoner

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

Answers

  • Acctd4
    Acctd4 Accredited Partner Posts: 3,780 Reckon Accounts Hosted Elite Expert Reckon Accounts Hosted Expert

    Hi @blairmuller

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


    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

    shaz@accounted4.com.au

    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!)
  • blairmuller
    blairmuller Member Posts: 62 Reckoner Reckoner

    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
    Acctd4 Accredited Partner Posts: 3,780 Reckon Accounts Hosted Elite Expert Reckon Accounts Hosted Expert

    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 ?

    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

    shaz@accounted4.com.au

    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!)
  • blairmuller
    blairmuller Member Posts: 62 Reckoner Reckoner

    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
    Acctd4 Accredited Partner Posts: 3,780 Reckon Accounts Hosted Elite Expert Reckon Accounts Hosted Expert

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

    Yes, the PAYG there needs to be manually overwritten 😊

    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

    shaz@accounted4.com.au

    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!)
  • blairmuller
    blairmuller Member Posts: 62 Reckoner Reckoner

    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
    Acctd4 Accredited Partner Posts: 3,780 Reckon Accounts Hosted Elite Expert Reckon Accounts Hosted Expert

    @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.

    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

    shaz@accounted4.com.au

    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!)
  • blairmuller
    blairmuller Member Posts: 62 Reckoner Reckoner

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

  • Acctd4
    Acctd4 Accredited Partner Posts: 3,780 Reckon Accounts Hosted Elite Expert Reckon Accounts Hosted Expert

    @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.

    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

    shaz@accounted4.com.au

    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!)