Holiday Leave, WorkCover etc not showing on Income Statement

Rosie
Rosie Member Posts: 113 ✭✭
edited July 27 in Reckon Accounts (Desktop)

Since we did the STP2 update the Holiday Leave, WorkCover Top-Up, Unused Leave payouts are not showing on the Income Statement for the employee.

We had to make a change in the 22-23 year (an adjustment had been made that wasn't correct so I asked payroll to change it back to the original values and re-issue the payment summary). The total Gross Earnings now doesn't match payroll records as it isn't including Holiday Leave, WorkCover etc. The 23-24 Income Statements that I then ran as a test also don't include this.

Is this correct? Why would this be the case when it is all taxable income?

Answers

  • Acctd4
    Acctd4 Accredited Partner Posts: 3,169 Reckon Accounts Hosted Expert Reckon Accounts Hosted Expert

    Hi Rosie

    Are your referring to the Income Statements in the employee myGov accounts or the old Payment Summaries that can be generated from within the program ?

    Unfortunately, the old Payment Summaries can no longer be used as they're not STP2-compatible. This is because they can only report the Payroll Items that are mapped to the old categories (eg when most gross payments were just mapped to the one Gross Payments label), not the new, disaggregated ones 😬

    If you're referring to the display in STP2 & the employees' Income Statements in their myGov, if the Gross amounts don't match up with your program payroll, this means that one or more of your Payroll Items has not been mapped correctly for STP2.

    When you say "Workcover", is this workers compensation on-paid to employees ? If so, it has its own ("Leave") categor(ies) in STP2, depending on whether the employee is working or not working.

    Annual Leave & Long Service Leave also have their own specific category & also a separate category it it's unused Leave that's being paid out on Termination.

    Attached is the ATO STP2 mapping table with the applicable Reckon Tax Tracking Types for each Payment Type:

    ATO STP2 Pymt Types List w-Reckon Mapping Tax Tracking List.xlsx


    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!)
  • Rosie
    Rosie Member Posts: 113 ✭✭

    Thankyou Shaz! That is very helpful! What would you recommened if needing to make an adjustment in 22-23 seeing we now can't issue her with a new Payment Summary as it doesn't include the earnings from Annual Leave or WorkCover.

    Thanks again, Rosie

  • Kris_Williams
    Kris_Williams Member Posts: 3,197 Reckon Accounts Hosted Expert Reckon Accounts Hosted Expert

    If you have done your STP finalisation the employees can see their income statement on their MyGov account.

Categories