Payroll Adjustment for EOFY and STP update
Hi I have an employee that we need to do an adjustment to their 2019/2020 payroll figures. I need to reduce their payroll by $30000 due to update from the accountant. The existing payroll figures have all been reported to the ATO via STP using Reckon GovConnect. How do I make an adjustment in the payroll for the negative amount as I am unable to create a negative payrun.
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is there an answer to this
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how to adjust payroll, need to put in a negative figure
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Unfortunately, it's not possible to create a negative or $0 Paycheque.
Bear in mind that STP has reported actual payments. I would be curious as to why the accountant has requested this adjustment as, to be reducing an employee's income figure - by a whopping 30K - a year down the track sounds dubious if the employee has actually already received it 😲
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If these wages have not actually been paid and have been offset to a loan or drawings account I believe you would have to go back and adjust a number of them to reduce by the 30000 and resubmit an update event for each of them, but the group tax could not be adjusted as far as I can see. The accountant should be on top of this throughout the year and possibly tell you how to do it.
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But you can do an adjustment at the end of the financial year? it that correct.
How do you record an adjustment, ie. a negative figure
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You can in your accounting system but not in the payroll side of things now that STP is in place
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