JOBKEEPER ALLOWANCES for new financial year 2020/2021

Hi,

I am using Reckon Accounts Desktop 2019 and at the moment we are claiming Jobkeeper allowances since the beginning (FN1)

Since the JOBKEEPER FN1 is an "allowances" item, it is my understanding it will get finalized/restart by 30th June when we submit the payment summaries, and this "allowances" item won't appear again in the new financial year 1st July

So my questions is

So how do I make sure that the JOBKEEPER claim still continue throughout the financial year?

1. do ATO recognised automatically from STP in July that we have FN1 on record from 2019/2020 financial year and I don't need to do anything?

OR

2. I have to manually create JOBKEEPER ALLOWANCES FNxx item again from 1st of July. If this is the case, do I put it FN1 or FN7 (22 June to 5 July) for employees that paid on or before 5th July

can i please confirmation?

thank you very much

Comments

Kris_Williams

I don’t quite understand your question. The allowance won’t disappear from the payroll program as far as I can see.

Eric_10590452

Hi Kris,

Thanks for prompt reply,

I meant the YTD allowances record. at the moment the jobkeeper allowances fn1 appear in YTD both stp and payment summary 2019/2020

but I thought this record will not be carried forward to new financial year, therefore I need to put jobkeeper allowances fn1 from 1st July continue claiming it?

but if it carry forward across financial year then it's ok

sorry for confusion

Kris_Williams

No the record totals won’t continue but the allowance will and if an employee leaves I imagine it will still require the allowance Finish FN08 etc, and Jobkeeper topup when necessary. I wouldn’t be using FN01 again or else that will really confuse the ATO and probably cause a problem with your claims

Eric_10590452

Hi Kris,

ok, noted

no changes with the employment,

so when I make jobkeeper payment to my employees in the new financial year (say on 1st of July), I need to create JOBKEEPER ALLOWANCES FN07 in their payslip to continue the claim?

FN7 is fortnight payment period between 22.06.20 to 05.07.20

thanks again

Kris_Williams

No if you have already started claiming using FN01 or whatever fortnight you started on you should have only entered this line once. Since then you should only have been using the Jobkeeper topup allowance if you were paying any employees an extra topup or the entire 750. And I don’t believe anything will change, but I keep an eye on this forum to find out if there are any major changes and stay up to date

Eric_10590452

Hi Kris,

Noted, thank you!

Josh Nolan

I'm using 2020 accounts. Will I need to do any updates for STP/jobkeeper in june/July to stay compliant?

Acctd4

Hi Josh

In relation to JobKeeper …..

the ATO has not advised that anything further needs to be done at EOFY so - as far as we are aware at the moment – no.

STP …..

As was required last year, you will need to “Finalise” your STP after EOFY to pick up any Terminated employees who have left & in order for STP to be marked as “Tax Ready” in your employees’ myGov records (eg their “Income Statement”).

Reckon Accounts …..

Reckon usually release an Update for the new FY with any updated payroll rate/threshold changes etc which you’ll need to download & install. If you’re on a current annual subscription, you’ll receive an email with the link when it’s released.

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

shazinoz2@bigpond.com

www.accounted4bs.com

Maree Shepherd

I have a similar question to Eric and have just completed my scheduled payrun for 16/6/20-15/7/20. When I uploaded the STP file on GovConnect I notice that under 'Payment Type' the Allowance for JobKeeper has dropped off. It was there for the previous two uploads. I haven't submitted it because I am concerned that our JobKeeper payment will stop if the STP does not show Allowance for STP. Any ideas?

Janine Dickson

We have same issue - all pays to EOFY F20 had the Job Keeper START FN showing in STP and on their INB
From F21 pays although nothing has changed for the employees it does not appear on the employees in STP or their INB as it did in F20
- do we need to re add Job Keeper Start FN01 to a pay in F21 to show ATO we are still eligible to claim

Acctd4

Hi Maree

This is likely because STP is based on YTD reporting & all payroll figures revert to zero at the end of each FY.

The “… FNXX” allowance was purely a “label” to inform the ATO of when JobKeeper (JK) eligibility commences for each employee.

Once you’re in the JK system, you’re in for the full duration – the only compulsory JK requirement is the monthly turnover/declaration (which is what “triggers” the actual reimbursement payment out to you)

The JK “ …FNXX” allowance label only needs to be used to identify a “Start” fortnight for an employee &/or a “Finish” fortnight for an employee eg if you have employees who leave during the JK duration period. Other than that, the FNXX label is irrelevant.

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

shazinoz2@bigpond.com

www.accounted4bs.com

Kris_Williams

No, read Shaz’s in depth answer

Maree Shepherd

Thanks so much Shaz - as I listened to the raging wind and rain last night here in Kiama, NSW I hoped some angel would have responded. Appreciate it.