Accuring a Bonus Payment

Barbara Allen-Guthrie
Barbara Allen-Guthrie Member Posts: 268 Reckon Star Reckon Star
in Reckon Accounts (Desktop)

I have an employer who asked me to enter accured bonus payments for period ending Mar 2023 and they intend to pay them in April 23, but want to see them in March reports.

I entered them as 28.4.23 in Payroll but of course they don't show in the March 23 report.

I am worried that if I enter them in March 23 then they will carry through on the STP report.

Not sure what I am supposed to do to get this right?

Answers

  • Kris_Williams
    Kris_Williams Member Posts: 4,277 Reckon Hall of Famer Reckon Hall of Famer

    Can you do a journal dated March, do the reports and reverse the journal in April and then pay them in April

  • Acctd4
    Acctd4 Accredited Partner Posts: 4,208 Reckon Accounts Hosted Elite Expert Reckon Accounts Hosted Expert
    edited April 2023

    You should explain to your employer that Payroll is always on a Cash basis (rather than Accrual) meaning it reflects as per payment date on internal reports, for ATO reporting & via STP. Creating GJs to impact this isnโ€™t recommended - it creates additional, unnecessary work & throws out balances which can be easily overlooked & cause issues down the track ๐Ÿ˜ฌ

    If he really wants it reflecting in March, tell him to pay it on 31st!

    Shaz Hughes.png

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  • Barbara Allen-Guthrie
    Barbara Allen-Guthrie Member Posts: 268 Reckon Star Reckon Star

    Thank you both, appreciate that :-)

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