FBT entry after termination

How do I enter FBT benefit for a previously terminated employee in Reckon Payroll?

Comments

  • Alexander McKeown
    Alexander McKeown Reckon Staff Posts: 147 Reckon Staff

    Hello @Lambert Kitchens ,

    We have a helpful guide on setting up FBT on our help website.

    You can find it here: https://help.reckon.com/article/pjx32fia4r

    After you've followed this guide, you will need to rehire the employee and make them active again, edit their previous payruns, and add in their FBT before their termination payrun.

    This should cover the FBT Benefit.

    Kind regards,

    Alexander McKeown

    Reckon Senior Technical Support

  • Lucas
    Lucas Reckon Staff Posts: 105 Reckon Staff

    Hi @Lambert Kitchens,

    I would just like to add on Alex's post above, here is the process to rehire the employee and make them active again if the termination option is greyed out:

    Thank you and speak soon.


    Cheers,

    Lucas

  • Acctd4
    Acctd4 Accredited Partner Posts: 3,314 Reckon Accounts Hosted Expert Reckon Accounts Hosted Expert
    edited January 23

    I never recommend duplicating an Employee record as this can cause issues with STP 😬

    Reckon Accounts allows for "Re-Hire" of a previously-terminated employee via the Employee Organiser, if necessary, so that method is the correct process to use:

    When selecting that it's a Rehire ("Yes"), the original Hire Date is still retained & a new (second) Hire Date entry option is also provided:

    Having said that @Lambert Kitchens, it's not necessary to do this just to add a Reportable Fringe Benefit to their record. NOTE: This amount should only be obtained from the Tax Agent based on the FBT Return lodged as this amount is a specific calculation, not just the perceived "value" !

    Once you have this, edit the last Paycheque for that employee in the relevant FBT year (Apr-Mar), Unlock it & add the RFB Payroll Item & determined amount there. It's a manual entry & should not impact any other employee amounts, either on that Paycheque or YTD balances.

    You will also need to re-lodge an STP Update Event submission for this employee. If it was in a prior FY, you'll need to lodge a new Finalise Year STP submission for that FY instead.

    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!)
  • Lucas
    Lucas Reckon Staff Posts: 105 Reckon Staff

    Hi @Acctd4,

    My apologies and thank you for correcting me. I thought the post was for Reckon Payroll, whereas you may know the termination process isn't the best.

    Thank you for providing the correct answer to Lambert.


    Cheers,

    Lucas