STP FINALISATION - PLEASE CONFIRM I AM ON THE RIGHT TRACK??

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  • Updated 5 months ago

All our updates are processed by an IT specialist – we have upgraded to Reckon Accounts 2019 R1 – the R2 update will not happen until next week (active since 1 July 2018 – 20+ employees).   

In the meantime, I will prepare the last pay for the year on 28 June 2019. 

Before I hit any buttons can you PLEASE CONFIRM I will follow the below procedure: 

28 June 2019 – as all employees will not be part of this pay run, do I lodge this pay as NORMAL with no boxes “ticked” – last pay for the year but DO NOT USE “Final Pay Event” 

When R2 is downloaded next week, I follow the “Finalise Year” steps to complete the process – the last pay has been exported on 28 June – I just need to do the “Finalise Year” step. 

(this meaning I would not use the “Final Pay Event” at any time??)

 Is this correct?? The more I read the more confused I become!!

 Thank you Bully


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Bully

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Posted 5 months ago

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Teagan Uttridge

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Good Morning, The finalise year file when you upload to the gov connect has is a summary of the payment summaries. I have lodged mine yesterday. it all seemed straight forward. If I have any errors I will let you know. I choose to send out payment summaries this year just in case something has gone wrong. At least my employees will know when they go to lodge their tax.
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Rav, Community Manager

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Hi Bully,
Our end of year finalisation article covers off this exact scenario. Check it out here -
Processing end of financial year finalisation with Single Touch Payroll
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Bully

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Hi Rav - I have read it, many times - 1am, 2am, etc. etc.  - please just confirm I do no need to use the "Final Pay Event" option at any time as per my request.  Thanks for your cooperation!

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Ifti, Product Owner

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Hi Bully,

You are right.

You will export the last pay as normal, then upgrade to R2 and just process Finalise year for 2018/19 to ensure every employee is on the exported STP file and they will be marked as final for the 2018/19 Financial Year.

We always recommend to consult an Accountant or a Reckon Partner to get appropriate financial advise.


Thanks,

Ifti
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Bully

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Thank you so much Ifti - bring on tomorrow!