Employee opening balances

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KarenAlice
KarenAlice Member Posts: 15 ✭
in Accounts Hosted

I am creating a new file on Reckon Hosted for a business which was previously on a different software, what would be the best way to enter the wages already earned July to September? Includes jobkeeper also but I assume I won't need to use the JOBKEEPER START as that would already have been done previously.

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  • Kris_Williams
    Kris_Williams Member Posts: 3,293 Reckon Accounts Hosted Expert Reckon Accounts Hosted Expert
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    If you are going to use the payroll figures for payment summaries, as I would expect if you are lodging STP, I think you should process the pays, even as 1 total pay for the quarter, as wages in payroll section, not just as a cheque, or YTD figures in employees details

  • Kris_Williams
    Kris_Williams Member Posts: 3,293 Reckon Accounts Hosted Expert Reckon Accounts Hosted Expert
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    Yes you are correct but the employee totals in Reckon Hosted will be incorrect for cross checking purposes, and I’m big on cross checking

  • Acctd4
    Acctd4 Accredited Partner Posts: 3,406 Reckon Accounts Hosted Expert Reckon Accounts Hosted Expert
    edited October 2020
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    I agree with Kris about having correct dates/cross-referencing however, you can specify the periods & pay dates in the YTD setup (just like a paycheque) but you do only setup ONE YTD summary per employee.  Therefore - depending how often your pay run/STP is & your PAYGW/BAS reporting - you could setup the YTD for the first month (July) or quarter (Jul-Sep) then enter the pay or 2 since as actual paycheques.  This way the YTD figures will balance with your reporting periods but it saves entering EVERY paycheque 😁

    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 *

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    Ballajura, WA

    shaz@accounted4.com.au

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    (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!)
  • Kris_Williams
    Kris_Williams Member Posts: 3,293 Reckon Accounts Hosted Expert Reckon Accounts Hosted Expert
    edited October 2020
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    Always check my employee totals in whatever payroll program with totals in Gov Connect at least quarterly, and then Payment Summaries at year end.

    ‘Why - because I’m pedantic and need to check what other people are doing

  • Kris_Williams
    Kris_Williams Member Posts: 3,293 Reckon Accounts Hosted Expert Reckon Accounts Hosted Expert
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    I’m happier being busy and confident in mine and others figures

  • KarenAlice
    KarenAlice Member Posts: 15 ✭
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    Thanks for the input, I have entered the totals for July to September in one pay run and could then check the totals match the report from the previous software and all looking good.

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