Reconciliation

Peter GraetzPeter Graetz Member Posts: 4
edited July 2020 in Single Touch Payroll App
I'm trying to do an EOFY reconciliation, 4 employee summaries are wrong, any suggestions?

Comments

  • PlatinumPlatinum Member Posts: 75
    edited June 2020
    I think the one overarching aim of the whole STP initiative is to get the employee payment summaries correct for them to download at end of financial year. Hence I’d be sending adjustments through the STP app to make their figures (gross, tax and super) reflect the amounts you have actually paid out for each employee. (My view as just another employer - I’m no accountant or tax advisor.)
  • PlatinumPlatinum Member Posts: 75
    edited June 2020
    Even better news I think.... I’ve just seen this post from Rav this afternoon: Hi everyone, If you're using the free Reckon STP app for micro-business and looking to finalise your end of financial year reporting, we've released a new update which introduces a comprehensive EOFY functionality. Please ensure you download and install the new update (v1.12.9) from your app store. IMPORTANT! Some users may have been experiencing discrepancies between the figures shown in the the 'Pay Summary' section of the STP app and what has/should be reported for their employees. The new EOFY function allows you to correct this in the app by creating the necessary adjustments to your figures and then send through a finalisation which essentially overrides any previous incorrect figures ie. It overrules the sum for all other pay runs and adjustments made throughout the financial year at the ATO. We've created a detailed step by step guide on the new End of Financial Year Finalisatio n for the Reckon STP app below - RECKON STP MOBILE APP - END OF FINANCIAL YEAR FINALISATION
  • Peter GraetzPeter Graetz Member Posts: 4
    edited June 2020
    I can't see how any adjustments can be made, have 3 employees that had 1 pay [correct on the pay run & at the ATO], but are wrong on the eofy report.
  • RavRav Administrator Posts: 11,645 Community Manager
    edited June 2020
    Hi Peter,
    Adjustments are created in the app by selecting the blue + symbol in the Pay Run screen and then choosing 'New Adjustment'
  • Peter GraetzPeter Graetz Member Posts: 4
    edited June 2020
    To make the adjustments, do I put in the correct annual totals into the columns?

  • RavRav Administrator Posts: 11,645 Community Manager
    edited June 2020
    Hi Peter, you adjustment should contain the figure you wish to adjust the total by. So for example, if you've reported $1000.00 gross pay for Employee A but in reality it should be $800.00 then your adjustment will be for -$200.00
  • Peter GraetzPeter Graetz Member Posts: 4
    edited June 2020
    Thank you so much that has been most helpful  
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