ETP Set Up

MSCnici

Hi- How do I set up & process ETP's in Reckon Accounts Enterprise:2023 - many thanks

Alexis McKeown

Hello @MSCnici ,

We have a guide on setting up ETP and Lump Sum items, and processing termination payruns.

You can find it here: https://www.reckonlimited.com.au/dataservices/KB/5025/TerminateinRAB.pdf

Kind regards,

Alexander McKeown

Reckon Senior Technical Support

Acctd4

@MSCnici Unfortunately, the Reckon guide above is quite old & doesn't reflect the current STP2 configurations 😬

Termination payments can be quite complex & the specifics are determined by various scenarios including how old the employee is, how long they have worked for you & whether their role has been made redundant or not.

NOTE: Unused Annual or Long Service Leave payouts & tax-free components of genuine redundancies are never ETPs but are shown at Lump Sum labels instead.

You can find ETP info on the ATO website here: https://www.ato.gov.au/businesses-and-organisations/hiring-and-paying-your-workers/engaging-a-worker/in-detail/taxation-of-termination-payments

Feel free to reach out to me direct if you feel you need specific assistance 😊