New business Reckon Accounts Enterprise

AdrianaM

Hello,

Our business is going through a restructure and is changing to a new ABN as of the 1st August. Apparently the recommendation by accountants has been to just update the current company file with the new information, rather than creating a new company file as we use Reckon to talk to another program we use, which they believe will affect it. I am wary of this due to Payroll and STP reporting, can you let me know besides creating a new entity on GovConnect, will this work, or are there any other issues that could arise?

Thank you, I hope it makes sense.

Acctd4

Hi Adriana

As you've identified, a new entity has a new ABN which will also mean a new reporting entity for STP. There will also be a separate entity for the annual tax return so it's important the 2 sets of figures are separated! 😬

AdrianaM

Yes, and they've assured that they can do it their end (I hope) but I am still concerned for the STP side. If I was to set up a new entity in GovConnect will that still work if they change the current details in the current file?

Acctd4

Each new entity (eg new ABN) has a separate tile in GovConnect so you would just add this new entity into your current GovConnect account.

Rav

Just adding to Shaz's reply above.

If there are any outstanding employee balances under the old ABN they will need to be taken care of ie. finalised through an EOFY finalisation etc if that's required.

As Shaz mentioned each ABN will have its own STP entity and you can add a separate one within the same account by clicking the Add Product ➡ Reckon GovConnect option in the top right when logged into GovConnect. You can then follow the prompts to setup the STP entity with its own ABN.

Note: This will have its own Software ID which you will need to register with the ATO prior to sending the first STP submission for it.

AdrianaM

Good Morning,

I am in a bit of a pickle. We changed ABN's on the 1st August, and as per previous post, the business owner wanted to keep the original company file. Once updated Reckon to the new version in July, I was focused so much on STP2, then for our first pay in August under the new ABN I got covid so I wasn't all there and didn't finalise the year under the previous ABN, so now when lodging the STP it's pulling in the gross from July which should be under the other ABN.

Is there a way I can fix this?

Please help!!

Thank you

Rav

Hi @AdrianaM

I've merged your two posts together just so its a bit easier to follow in regard to what's happened.

Can you give us an idea of how this ABN change was handled in the company file side of things.

Did you update the original company file that previously had the former ABN listed in its Company Information to the new ABN or did you start a brand new file for this new ABN?

If its the former, do you still have access to the previous file and/or any backups for it?

AdrianaM

Hi Rav,

I had nothing to do with the update of the file, but according to others, they only updated the details with new ABN not a new company file altogether.

I do have access for the back up files (as I do one before every pay)

klaura

Hi@AdrianaM,

As Rav mentioned, you need to finalize the submission made under the OLD ABN. Since you have a backup copy, provided it's the last backup before the ABN change, you can restore the old data file and create an STP EOFY. This will finalize the submissions made on the OLD ABN. 

AdrianaM

@klaura

Thank you, do you have any step by step instructions for running a back up file? I have never done this before.

Thank you

Rav

Hi @AdrianaM

There are step by step instructions on restoring a backup file in the post linked below -

https://community.reckon.com/discussion/6628861/how-to-restore-a-backup-file-qbb-in-reckon-accounts-desktop

AdrianaM

Thanks @Rav

So I will run another back up before I restore the old back up I have saved, then once I complete that, will I then do the same process to get back to where we are now to restore the most recent back up?

Thanks

Adriana

klaura

Hi @AdrianaM

You can use the back up or you may continue using the current working data file.

AdrianaM

Hi @klaura,

So I was able to finalise the old ABN to ATO and was correct for July, but as a test, I tried to finalise for the next 2023/24 FY, and it still brings in the July figures.

As above, I had 2 payments in August, so how am I going to fix that next financial year?

klaura

Hi @AdrianaM,

You can delete the pays under the OLD ABN so that these pays will not be adding up to the new ABN's total. You can always go back to the backup copy if you need to.

AdrianaM

Hi @klaura

Thank you, can you run me through the correct way to delete them? will have 2 different pays. I've discussed with out accountants so we're all aware we are removing figures.

klaura

Hi @AdrianaM,

To delete Pay cheques:

1. Display the pay cheque you want to delete.
2. Go to the Edit menu and then click Delete Paycheque.

Kris_Williams

You can also press Ctrl D to delete whatever is displayed on the screen