In this release we’ve updated AccountRight with some important compliance changes for Australian businesses, and fixed lots of stability, display, printing, usability and reporting issues.
This...
Updated 8 years ago
Version 1.0
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HI Bumwitdebits
Thanks for your question.
Am I correct in assuming your meaning rolling over the financial year as opposed to the payroll year?
If you are wanting to close the financial year in your file, it is separate to the loading of the tax tables. The rolling of a financial year should only be done after your accountant has completed their end of year journals, generally this is after the end of the year and as a result you would have upgraded first.
In contrast if you are referring to closing the payroll year you will need to have completed your last pay of this year before looking at updating. Once the last pay of the year has been completed then you will need to install the latest update, followed by the preparing of the payment summaries and then closing off the payroll year.
Once the payroll year has been closed, then you will need to load the tax tables before the first pay of the new payroll year. If this is skipped then the tax will be incorrect on the first pay of the new year.
Do feel free to post any other questions that you may have.