JOBKEEPER ALLOWANCES for new financial year 2020/2021

  • 1
  • Problem
  • Updated 1 month ago
Hi,

I am using Reckon Accounts Desktop 2019 and at the moment we are claiming Jobkeeper allowances since the beginning (FN1)

Since the JOBKEEPER FN1 is an "allowances" item, it is my understanding it will get finalized/restart by 30th June when we submit the payment summaries, and this "allowances" item won't appear again in the new financial year 1st July

So my questions is

So how do I make sure that the JOBKEEPER claim still continue throughout the financial year?

1. do ATO recognised automatically from STP in July that we have FN1 on record from 2019/2020 financial year and I don't need to do anything?

OR

2. I have to manually create JOBKEEPER ALLOWANCES FNxx item again from 1st of July. If this is the case, do I put it FN1 or FN7 (22 June to 5 July) for employees that paid on or before 5th July

can i please confirmation?

thank you very much
Photo of Eric

Eric

  • 120 Points 100 badge 2x thumb

Posted 1 month ago

  • 1
Photo of Kris Williams

Kris Williams

  • 11,696 Points 10k badge 2x thumb
I don’t quite understand your question. The allowance won’t disappear from the payroll program as far as I can see. 
Photo of Eric

Eric

  • 120 Points 100 badge 2x thumb
Hi Kris,

Thanks for prompt reply,

I meant the YTD allowances record. at the moment the jobkeeper allowances fn1 appear in YTD both stp and payment summary 2019/2020

but I thought this record will not be carried forward to new financial year, therefore I need to put jobkeeper allowances fn1 from 1st July continue claiming it?

but if it carry forward across financial  year then it's ok

sorry for confusion







Photo of Kris Williams

Kris Williams

  • 11,696 Points 10k badge 2x thumb
No the record totals won’t continue but the allowance will and if an employee leaves I imagine it will still require the allowance Finish FN08 etc, and Jobkeeper topup when necessary. I wouldn’t be using FN01 again or else that will really confuse the ATO and probably cause a problem with your claims
Photo of Eric

Eric

  • 120 Points 100 badge 2x thumb
Hi Kris,

ok, noted

no changes with the employment,

so when I make jobkeeper payment to my employees in the new financial year (say on 1st of July), I need to create JOBKEEPER ALLOWANCES FN07 in their payslip to continue the claim?

FN7 is fortnight payment period between 22.06.20 to 05.07.20

thanks again

Photo of Kris Williams

Kris Williams

  • 11,696 Points 10k badge 2x thumb
No if you have already started claiming using FN01 or whatever fortnight you started on you should have only entered this line once. Since then you should only have been using the Jobkeeper topup allowance if you were paying any employees an extra topup or the entire 750. And I don’t believe anything will change, but I keep an eye on this forum to find out if there are any major changes and stay up to date
Photo of Eric

Eric

  • 120 Points 100 badge 2x thumb
Hi Kris,

Noted, thank you!
Photo of Josh Nolan

Josh Nolan

  • 132 Points 100 badge 2x thumb
I'm using 2020 accounts. Will I need to do any updates for STP/jobkeeper in june/July to stay compliant?

Hi Josh

 

In relation to JobKeeper .....

the ATO has not advised that anything further needs to be done at EOFY so - as far as we are aware at the moment – no.

 

STP .....

As was required last year, you will need to “Finalise” your STP after EOFY to pick up any Terminated employees who have left & in order for STP to be marked as “Tax Ready” in your employees’ myGov records (eg their “Income Statement”).

 

Reckon Accounts .....

Reckon usually release an Update for the new FY with any updated payroll rate/threshold changes etc which you’ll need to download & install.  If you’re on a current annual subscription, you’ll receive an email with the link when it’s released.

 

Shaz Hughes Dip(Fin) ACQ NSW, MICB

Reckon Accredited Professional Partner Bookkeeper / Registered BAS Agent (No: 92314 015)

Accounted 4 Bookkeeping Services

Ballajura, WA

0422 886 003

shazinoz2@bigpond.com

www.accounted4bs.com