JobKeeper Entry

Samantha Dwyer
Samantha Dwyer Member Posts: 23
edited June 2020 in Reckon One
I just want to confirm that once you have entered the JOBKEEPER-START-FN01, you don't have to keep entering a code for every pay after that until it finishes? Except for top ups obviously?
Also, because we don't have to pay PAYGW, how do we reconcile this on Reckon One to show as nil.

Comments

  • Rav
    Rav Administrator, Reckon Staff Posts: 15,305 Community Manager Community Manager
    edited June 2020
    Hi Samantha,
    Check out our JobKeeper FAQ's, it should cover all of your questions - 
    JobKeeper Payments FAQ


    ℹ️ Stay up to date with important news & announcements for your Reckon software! Click HERE for more info.

  • Samantha Dwyer
    Samantha Dwyer Member Posts: 23
    edited April 2020
    thank you! Yes that did answer the first one.
    I can't find anything regarding the PAYGW though.
    Thanks for all your posts, been great!
  • Felicity Bleckly_10462754
    Felicity Bleckly_10462754 Member Posts: 43
    edited April 2020
    $1500 per fortnight is subject to PAYGW so I don't know why it is a problem in reckon
  • Samantha Dwyer
    Samantha Dwyer Member Posts: 23
    edited April 2020
    Businesses don't have to pay PAYGW for last quarter but it will show up on the balance sheet as a liability. They are calling it a 'Cash Boost'. It was the first thing that came out. 
    Rav - is there any info on this on how to reconcile the payments?
  • Michael Corrigan_9203178
    Michael Corrigan_9203178 Member Posts: 70
    edited April 2020
    With the PAYGW a journal entry may be appropriate 
  • Linda Benfield
    Linda Benfield Member Posts: 75
    edited April 2020
    Hi All, 

    I have set up an "Other income account" called "Cash Booster Funds Received"

    In the BAS Journal enter the amount credited to BAS Account Say $10,000

    Cash Booster Funds Received Cr $10,000

    ATO-ICA    Dr $10,000

    This will reduce the balance sheet account showing debt to the ATO

    If A credit is paid to your bank account then simply transfer it to the ATO ICA account in Reckon and it should go back to Nil.

    Linda


  • Samantha Dwyer
    Samantha Dwyer Member Posts: 23
    edited June 2020
    Awesome. Thanks Linda!