Employee loan repayment not included in Gross Payments (YTD)
I'm currently going through the EOFY Finalisation process and note that gross wages to report are being understated. There's an employee who repaid a loan in a pay run via the Deduction/Advance Repayment payroll category and this repayment is now being deducted from his Gross Wages so that his Gross Payments (YTD) is being understated by this repayment amount.
I'm unsure if this can be corrected in any way or whether I need to process an amending pay run for him so that his gross pay will be reported correctly. Looking at the Deduction/Advance Repayment payroll category I can see that the Tax box was ticked in the Exempt field.
Cheers Stephen
Hi Enmark
Any payroll categories that have been assigned to Gross Payments but are exempted from PAYG Withholding will not be reported through STP. Therefore, please check if PAYG should be exempt or not from this loan repayment with an accounting advisor. If you untick the exempt option, and process a $0 pay, the figures would be updated correctly.
Let me know if you have any questions.