STP - EOY process for Payroll Premier

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  • Updated 4 days ago

Where can i find the process of what to do come EOFY with STP. I'm assuming there would need to be some sort of reconcile of what's been submitted to the ATO weekly compared to what we have in payroll as i understand PAYG payment summaries are no longer required? 
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Posted 1 month ago

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Teagan Uttridge

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I am not comfortable that PAYG Payment Summaries are still not needed. We report Gross and Tax Withheld, my employees are paid allowances. over half of my submissions are still pending as well. I will be providing payment summaries this year and also reconciling wages to BAS' and STP as I have every other year.
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Hi Teagan,

I'm exactly the same, don't feel comfortable with the current process. I know some of my STP submissions have imported incorrectly as it is with allowance being allocated incorrectly,
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Helen Bowers

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Hi Kali. If you are currently complying with STP then I believe Payment Summaries are not required. All the information from your payroll already goes to the ATO and is also available to the employee on individual employee's MyGov accounts. However, if you are preparing to start STP from July this year, then you will still be required to give your employees Payment Summaries at end of June 2019. Reckon website has plently of good material that explains how to get started with STP.
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Thanks Helen, yes, that is my current understanding; however, i still think a reconcile needs to be done to ensure the figures match between the two.
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Sandra Nolan

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The question hasn't been answered. I have read the responses and I'll be doing my own reconciliation but i'm not expecting any issues.  BUT there is still not an answer to the question:  "Where can i find the process of what to do come EOFY with STP."

Do we send the final pay through the normal export process and then go back and do something else ie. there's the button at the top that says 'end of financial year' - I'd like some instructions on how and when we use this please.
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Rav, Community Manager

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Hi Sandra & everyone,
There will be new functionality coming to our product range, including Payroll Premier in the next couple of weeks or so which will introduce a year end finalisation feature. This will present all the employees that have been paid throughout the financial year rather than just those in the last pay of the year.
We'll have more info on this a little closer to release.
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Hi Rav, 
If we have our last pay on the 18th that will be the final pays for the financial year, do we still mark as the final event? Or do we wait until the new update and make the year end finalisation feature the final event?