Forum Discussion

spresnell's avatar
2 years ago

Undo Single Touch Payroll end of Year Finalisation

I've picked up that our 2022/2023 payroll had an employee deduction as "Not Reportable" when it should have been "Other EMployee Benefit".

Staff who have had this deduction taken have therefore paid less tax. When they are lodging their tax their salary deduction isn't being accounted for and are therefore getting tax bills.

How do I correct this for a previous financial year that has been finalised.

I'm a bit nervous to undo the finalisation and the ramifications this might have.  Although when I contacted the ATO they said to check with MYOB about doing just that.

Should I select affected employees and undo their finalisation, run an update event now that the correct category has been selected, and then re-do their finalisation?  Will this correct it.  Then they will need to re-subit their tax returns?

And help and advice would be appreciated.

  • Doreen_P's avatar
    Doreen_P
    MYOB Moderator

    Hi, spresnell 

     

    Thanks for your post, and welcome to the MYOB Community Forum. 

     

    To correct the situation, kindly undo the finalisation for the impacted employee and then make sure to select the correct ATO Reporting Category. Once done, make sure to create a pay run if there are any adjustments that need to be made and have it dated as 30/06/2023. Lastly, kindly send an update event and then redo the finalisation. Kindly advise your employees to re-submit their tax returns. To undo the termination and send an update event for the impacted employee, kindly check The Help Article: End of year finalisation with Single Touch Payroll reporting for further information. 

     

    Please let us know if you require any further assistance with your concern. We are happy to assist.

     

    Best regards,

    Doreen

    • Hi Doreen

      I followed the above process.  However it hasnt corrected the information with the ATO.

      Any other options I could try?

       

      Thanks

      Sarah

       

      • Doreen_P's avatar
        Doreen_P
        MYOB Moderator

        Hi, spresnell 

         

        Thanks for updating us.

         

        Since you were able to follow the steps provided above, kindly check your Payroll Activity, Payroll Register and YTD Verification reports to see if they have the correct figures now. If yes, kindly redo the finalisation so that the correct figures will be sent to the ATO.

         

        Please let us know how it goes. 

         

        Best regards,

        Doreen