Gross and Net pay reported In YTD STP Report is higher than the actuals in Payroll Summary Report and Employee Earnings Report. The EOFY STP Checklist suggests (Item 3B in page 2) to process an adjustment. How to fix this.?
Edited: corrected typo
I'd suggest checking it out just to see as the balances in the EOFY finalisation screen are the balances that will be reported to the ATO.
You can discard the finalisation prior to submitting it at any time so there's no issue in checking it.
Excuse me for the Typo Error: Gross Pay
Hi @accounts.dobsons
When you look at the STP YTD report and compare that with your EOFY finalisation screen, are the balances across those two correct and match up with each other?
I did not check EOFY screen yet. Because Reckon Checklist wants us to reconcile differences by running EOFY Finalisation. (Need to complete Step 3B, before Step 4)
Thanks, checked as you suggested. STP figures agree with the Payroll Summary totals. I have one issue with an employee with a Redundancy Pay. The Redundancy payment is not reflected in the STP. Need to correct this.
Can you give me a bit more info on that. Is there a a particular pay item/balance that isn't appearing when it comes to the redundancy payment?
Also, I'll just add something separately; The Payroll Summary report is just that, a high level summary and its not really the report to be using for EOFY reconciliation as it shows all pay run figures,Ā including pay items that are not reported via single touch payroll (STP). It doesn't show balances on a disaggregated level for STP Phase 2 and also includes balances for pay runs in draft.
The best reports for EOFY in Reckon One are theĀ Employee Earnings Summary reportĀ andĀ STP YTD reportĀ which I'll link more info to below š
The best reports for your EOFY finalisation - #TipTuesday šš
HI Rav
I am so glad I found this discussion.
I followed the instructions this year in the check list and processed my reconciliations using the Payroll Summary report and the new STP YTD. In previous years I had created a report from the EOFY finalisation screen.
I have spent the good part of 2 days trying to locate differences between the Payroll Summary Report and the STP YTD report and just like accounts.dobsons above, I too had higher figures in the STP YTD report for 6 employees. I was at the end of my tether not being able to locate the differences (although I was able to narrow it down to 6 employees out of 32) and was about to reach out to you until I saw this suggestion. I generated the EOFY Finalisation report and hooray - it all balances!
Why does the STP YTD form have the incorrect figures? I could have saved a lot of time today if it had been mentioned in the checklist that the STP YTD may not always be the same as the EOFY report.
@Therese R the STP YTD report and the EOFY finalisation are one in the same so they will match when it comes to balances. The STP YTD report shows the balances of all STP-reportable items from all pay runs that are marked as paid.
The Payroll Summary report, if that's what you're looking at, is not the report to be looking at for EOFY reconciliation. As I mentioned above in this post, the Payroll Summary report is only a high level summary and its not really the report to be using for EOFY reconciliation for the reasons mentioned above.
The best reports for EOFY in Reckon One are theĀ Employee Earnings Summary reportĀ andĀ STP YTD report and I'd recommend taking a look at my post linked above on the best reports for EOFY reconciliation for more info on these two reports.
Thanks for responding. My issue is that the STP YTD report and the EOFY report are showing differences. I compared the totals from the Employee Earnings summary and the EOFY report and they are the same.
Any thoughts on this?
@Therese R
Could you do me a favour and create a separate, new post on this and include a specific example of what's missing in the STP YTD report when compared to the EOFY finalisation. If you can include screenshots that would be helpful as well.
I'll jump on there and take a look at that.
Cheers
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