ETP PAYMENT SUMMARIES 2014 2015

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Judith Nicholls
Judith Nicholls Member Posts: 12 ✭
edited August 2016 in Reckon Accounts (Desktop)
Hi All,
Since July 1st 2014, I have had 2 clients having to create an employment termination payment in total 3 employees, 2 different tax rates 2 on the lower rate 1 on the higher rate.
I have no problem with the procedure, the payslip or the net pay.
However when the ETP Payment Summary is printed the PAYG is incorrect this has only happened since the tax patch upgrade.
Reckon's first reponse was the new tax rates for he 2015 year - however I have used the ATO calculator and manually calculated the tax the PAYG, the PAYG in the payrun is correct - the amount showing on the payment Summary is incorrect.
2 of the employees terminated have requested the payment summaries are reprinted showing the correct amount.
Does someone have an explanation that does not sound like an excuse.
Thanks.
Judy.

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  • Judith Nicholls
    Judith Nicholls Member Posts: 12 ✭
    edited July 2014
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    To add to my original post.  After the 2014/15 tax patch upgrade the ETP payment summary changes the PAYG reported amount (in the instances I have tested) from 46.5% to 49%.
    Judy
  • Jamaiel_6490508
    Jamaiel_6490508 Reckon Staff Posts: 74 Reckon Staff
    edited July 2014
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    Hi Judith,


    Welcome to Reckon Community!

    With regards to ETP's, as per the Product Upgrade information and the email notification for the availability of the Tax Update for the RA 2014, the End-Of-Financial Year process must be concluded on the Reckon Accounts 2013 R2 or Reckon Accounts 2014 R1.

    Due to the ETP Rate Changes for this financial year, all the 2013/14 Payment Summaries and EMPDUPE must be processed prior to installing the Service Pack.

    Therefore, you may need to produce the ETP Payment Summaries using the previous release or previous version.

    Also, for more information, the increase on the Medicare and ETP rates can also affect the Tax Rate where the instance the Whole Income Cap is above the $185,000 (or the cap can also be lowered depending on the situation), a 2% National Debt Levy is added to the Pay.

    Please refer to KB ID: 5025 and to contact ATO as well pertaining to this for further clarification.

    Hope it helps!



    Kind Regards,

    Jamaiel

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