STP FINALISATION - PLEASE CONFIRM I AM ON THE RIGHT TRACK??
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
Comments
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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.0
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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 Payrollℹ️ Stay up to date with important news & announcements for your Reckon software! Click HERE for more info.
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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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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,
Ifti0 -
Thank you so much Ifti - bring on tomorrow!0
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