STP final pay event
Does this mean I don't have to do anything else?
Comments
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Hi Dianne,
Yes you've done exactly what you need to for a terminated employee.
I'll add a link below with a bit more general info on Final Pay Events in Single Touch Payroll -
Final Pay Event
ℹ️ Stay up to date with important news & announcements for your Reckon software! Click HERE for more info.
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Thank you - that wasn't nearly as difficult as I thought it would be.
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Hi Rav
I've just posted my first STP which included a terminated employee. I read your instructions first, making sure that the employee's release date was recorded before I processed the STP. But when I had a look at the employee detail list, it has NO in the Final Event column for the terminated employee. So what now? Sue
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Hi Rav
l have also only just done all this for the first time, and as Sue said did the termination process through Reckon Hosted. Just checked the details on the STP file done and still says No in the Final?
Have l done something wrong .... ?
Thanks
Jazz
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Hello,
what happens with an employee made redundant? Will this flag as final event?0 -
Hi Heidi
The “Final Event” classification is automatically flagged as a result of having a “Release Date” entered in the Employee record, rather than the type of termination.
Ideally, you want to go through the “Terminate Employee” wizard (Right-click on Employee Name to select from pop up menu) but you can just enter a date in this field manually.
Shaz Hughes Dip(Fin) ACQ NSW, MICB
Reckon Accredited Professional Partner Bookkeeper / Registered BAS Agent (No: 92314 015)
Accounted 4 Bookkeeping Services
Ballajura, WA
0422 886 003
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
(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!)
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I have an employee with a final event saying YES as I had entered the release date in the employment record back in March. However, the accountant has advised I need to add FBT to the employee record.
Do I do an Update Event and then a final Finalise Year STP lodgement? I believe the latter is when the FBT amount shows.
Regards,
Sue Renouf
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It doesn't really matter - You can do an Update Event if you want to or, wait until you finalise after EOFY as as it's the Finalise Year process that changes the YTD status to "Tax Ready" 😁
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
(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!)
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Thanks Shaz. Appreciate your reply.
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