Forum Discussion

Jen65's avatar
Jen65
Trusted Cover User
3 years ago
Solved

Payroll EFY 20/21

Hi, question in relation to the end of financial year.   I have payroll that ends 25/6 for this finanical year, but i also have an employee leaving us and his payment goes into the next financial y...
  • Tracey_H's avatar
    Tracey_H
    3 years ago

    Hi Jen65 

     

    That's correct, any pays you process with a payment date on or after 1 July 2021 will automatically go into the 2022 payroll year. You'll still be able to go back and finalise 2021 after entering pays in the new year.

     

    Great tip by vidario too, you will need to change the super guarantee rate and make sure it's correct when processing any pays in different years.

     

    Please let me know if you need further help.

     

    If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.

Jen65's avatar
Jen65
Trusted Cover User

ThanksTracey, so im all good to process the new payroll on the 1/7/21 and I assume this will not affect STP as it will also go into the new financial year 2022 even though I have not done the EFY Finalisation in the 2021 year ?

Tracey_H's avatar
Tracey_H
Former Staff
3 years ago

Hi Jen65 

 

That's correct, any pays you process with a payment date on or after 1 July 2021 will automatically go into the 2022 payroll year. You'll still be able to go back and finalise 2021 after entering pays in the new year.

 

Great tip by vidario too, you will need to change the super guarantee rate and make sure it's correct when processing any pays in different years.

 

Please let me know if you need further help.

 

If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.

  • GayleHEH's avatar
    GayleHEH
    Experienced Cover User
    3 years ago

    Hi,

    I also have a question if you help me with it.

    I had to do an adjustment to my payroll for 20/21 year today and we normally keep a copy of our Payment Summaries for each year.  We do use STP so ATO will be issuing these.  We just keep a copy.

    Well, I have just gone back to Command Centres > Payroll > Prepare Payment Summaries and am not getting any employees in RESC or Payment Summaries for selected employees.

    I have not finalised with ATO the STP for end of year.

     

    Do you know what is happening?

    • Tracey_H's avatar
      Tracey_H
      Former Staff
      3 years ago

      Hi GayleHEH 

       

      Payment summaries and STP are completely separate reporting methods, as such, you will need to go through each step in the payment summary assistant to create those summaries. It's also important to note that the information in payment summaries may be different to STP as STP uses ATO reporting categories to filter payment amounts. 

       

      If you want to keep a hard copy of income information sent to the ATO, personally I'd recommend the Summary of Payments report. This is the STP version of the old payment summary so it's the actual information sent to the ATO through STP. You can find the Summary of payments report in the Payroll reporting centre>>EOFY finalisation tab>>click on the ellipsis (...) for the employee and select Download report.

       

      Please let me know if you need further help.

      • GayleHEH's avatar
        GayleHEH
        Experienced Cover User
        3 years ago

        Thank you Tracey,

        I was already aware of this.  It is only that I cannot get a hard copy of the Payment Summaries through MYOB anymore.

        I did on Friday get a download of the Payment Summaries through the MYOB > PAYROLL > PREPARE PAYMENT SUMMARIES and went through the wizard and all okay.

        This morning I had to put through a pay adjustment and balanced the payroll again and when I use this wizard it is not showing any employees.

         

        I just want to print the hard copy of Payment Summaries for the adjusted employees so we have a hard copy for our records.

         

        MYOB is not allowing me to see employees so I cannot update my hard copies.

        STP is all good.  Just want a copy of the 2 adjusted employees Payment Summaries for our records.

         

        Hope this makes sense.

         

        Gayle