Reckon One has received an update today which introduces new features including the ability to generate an ABA file within a pay run, a new downward variation tax option and more!
Check out the inclusions of the new update below!
🆕 Generate ABA within a pay run
You can now generate and download an ABA file directly from your pay run! This streamlines and simplifies the process by eliminating the need to manually create a bank payment outside the pay run.
If your book is set to automatically make payments after each pay run (in Payroll Settings), Reckon One will automatically generate a payment for each employee when the pay run is marked as paid. This is found under Day to Day ➡️ Make Payment
The new Generate ABA button will automatically create a bank payment for all employees in the pay run who are paid using EFT. The ABA file will be downloaded to your PC using your browser's settings.
🆕 Downward variation tax
Reckon One now supports downward variation which ensures accurate tax calculations and correct reporting to the ATO in-line with STP Phase 2 requirements.
Downward variation allows employees to reduce the amount of tax withheld from their payments, typically when their deductible expenses result in a large tax credit at the end of the income year. Employees must apply for approval from the ATO, which then notifies the employer of the applicable tax percentage to withhold. This update also includes start and finish dates for the variation, which is reported to the ATO under the tax treatment code format DVXXXX.
✨ Pay Period enhancements on payslips
We've made improvements to payslips so that they'll now correctly reflect any changes made to pay periods in a previously completed pay run.
✨ Submit a Product Suggestion updated
The option to submit a product suggestion in the Help menu has now been updated to direct you to the new home for Reckon One ideas right here on the Reckon Community!
🐛 Bug Fixes
- We've corrected the messaging that appears when saving a tax agent or name of person authorising the tax agent if the characters within those fields exceed 200 characters.
- Selecting the Cancel option when updating the employee number will ensure the employee number is reverted to the previous number.
- Added a fix for the scenario where creating a new pay run from the Quick Add button when you're already on the pay run details screen wasn't taking you directly to the newly created pay run.
- We've ensured that duplicate earning items and leave items can be added to the same pay run multiple times.
✨ Minor enhancements
- The book switcher now displays books in ascending alphabetical order
- The Rate and Quantity labels have been right-aligned on the employee Pay Setup screen to improve readability when entering pay information.
- When updating the employee number, the Learn More link now open in a new tab
