STP - EOY process for Payroll Premier

  • 2
  • Question
  • Updated 4 months ago
Hi,

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? 
Photo of Kali

Kali

  • 2,104 Points 2k badge 2x thumb

Posted 5 months ago

  • 2
Photo of Teagan Uttridge

Teagan Uttridge

  • 570 Points 500 badge 2x thumb
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.
Photo of Kali

Kali

  • 2,104 Points 2k badge 2x thumb
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,
Photo of Helen Bowers

Helen Bowers

  • 1,562 Points 1k badge 2x thumb
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.
Photo of Kali

Kali

  • 2,104 Points 2k badge 2x thumb
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.
Photo of Sandra Nolan

Sandra Nolan

  • 118 Points 100 badge 2x thumb
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.
Photo of Rav

Rav, Community Manager

  • 89,062 Points 50k badge 2x thumb
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.
Photo of Courtney

Courtney

  • 178 Points 100 badge 2x thumb
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?
Photo of Melody Caldwell

Melody Caldwell

  • 160 Points 100 badge 2x thumb
Hi Rav
How do we put reportable fringe benefits,RESC amounts and allowances on the payment summary or STP?
Photo of Helen Bowers

Helen Bowers

  • 1,562 Points 1k badge 2x thumb
Hi Melody. Go to the employee to edit details. Go to Fringe Benefits tab. Enter 2019 taxable value of benefits. Ensure 2019 is the date. The software then grosses this up to the correct amount. When the payment summary is printed it will be there.