Need to update STP after finalisation using wrong tax code

Chet
Chet Member Posts: 48 Reckoner Reckoner
in Reckon Accounts (Desktop)

Hi Rav, hope you can help with this query.

I setup a working holiday maker employee with Tax code "TFN" but i should have used "No TaxCode". When i realised my mistake i amended the tax code part way through the FY.

Right now on her income statement, it has split the income into Salary and Wages and Working Holiday Maker incomes.

How do i amend so that everything earned comes under Working Holiday maker income?

Best Answers

  • Reeta
    Reeta Reckon Staff Posts: 152 Reckon Staff
    Answer ✓

    Hi @Chet,
    Thank you for confirming.

    Please follow the below steps to resolve the issue:

    1.Update All Paychecks: Review and update all the paychecks with correct tax code. This may include verifying employee details, tax calculations, and other relevant information.

    2.Send an Update Event: Once the paychecks are updated, send an update event to your ATO. This ensures that any changes or corrections made to the paychecks are properly recorded at ATO end.

    3.Submit the EOFY Report: After completing the updates and sending the update event, proceed to submit the End of Financial Year (EOFY) report. This report includes all the changes, as it finalizes the payroll records for the financial year and ensures compliance at ATO end.

    Hope this helps.

    Kind regards,
    Reeta

  • Reeta
    Reeta Reckon Staff Posts: 152 Reckon Staff
    Answer ✓

    Hi @Chet,

    You can only finalize the records for the specific employee who has the issue.

    Kind regards,

    Reeta

Answers

  • Reeta
    Reeta Reckon Staff Posts: 152 Reckon Staff

    Hi @Chet ,

    Thank you for your query.

    Could you please confirm which product you are using? It appears you posted in the Reckon Desktop section, but it seems like it might be Reckon Payroll.

    Kind regards,

    Reeta

  • Chet
    Chet Member Posts: 48 Reckoner Reckoner

    Hi Reeta, i'm using ReckonHosted.

    Thank you.

  • Chet
    Chet Member Posts: 48 Reckoner Reckoner

    Thank you Reeta for your help.

    With item 3, do i have to finalise for all employees or just for this particular employee?

  • Chet
    Chet Member Posts: 48 Reckoner Reckoner

    Ok, thanks for confirming that.

    Truly appreciate the help you've provided. I will now have a happy employee 😀

  • Reeta
    Reeta Reckon Staff Posts: 152 Reckon Staff

    Hi Chet,

    I'm happy to help!

    If you need any more assistance, please feel free to reach out to us on our community page.

    Kind regards,

    Reeta

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