Last Payrun for the Year
Hi
My pay week goes from Sunday to Saturday. I pay my employees on Tuesdays. Do I include the last week of my payrun 25/06/2023 - 01/07/2023 in this financial year 2022/2023 or next year 2023/2024 as Saturday is the 01/07/2023.
Best Answer
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Payroll is always based on payment date (rather than the pay period) so Pays dated up to - & including - 30/06 is THIS FY. if paid from 01/07 onwards, it will be next FY βΊοΈ
Shaz Hughes Dip(Fin) ACQ NSW, MICB
*** Reckon Accredited Partner (AP) Bookkeeper - specialising EXCLUSIVELY in Reckon Accounts / Hosted ! *** Bookkeeping & 1-on-1 customised software Training/Troubleshooting ***
* Regd BAS Agent (No: 92314 015)* ICB-Certified Bookkeeper* Snr Seasonal Tax Consultant since 2003 *
Accounted 4 Bookkeeping Services
Ballajura, WA
(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!)
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Answers
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As I do the pays into the bank on the Tuesday, it will go into next year FY. Thankyou
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The payroll is based on the date it is PAID. If it is after next Friday it will be in 23-24 year.
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Yes, thatβs correct @Vicki Jonas βΊοΈ
Shaz Hughes Dip(Fin) ACQ NSW, MICB
*** Reckon Accredited Partner (AP) Bookkeeper - specialising EXCLUSIVELY in Reckon Accounts / Hosted ! *** Bookkeeping & 1-on-1 customised software Training/Troubleshooting ***
* Regd BAS Agent (No: 92314 015)* ICB-Certified Bookkeeper* Snr Seasonal Tax Consultant since 2003 *
Accounted 4 Bookkeeping Services
Ballajura, WA
(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!)
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