EOFY Payroll ending
Hi,
Can someone please tell me when I should close my books for my clients payroll?
Their week starts on monday and ends on Sunday.
As the 30 th june is on a Thursday, what should I do to finalise and close off the books for payroll?
thank you
JAMES
HI JAMES1961
Thanks for your post. Once the final payrun for the payroll year has been recorded you can finalise employees by following these steps:
- check YTD totals
- notify the ATO of terminated employees
- finalise STP
The financial year a payrun is reported in is determined by the payment date, not pay period. So if your client's pay period 27 June to 3 July is paid in July it falls into the 2022-23 financial year.
The Help Article, EOY finalisation with STP, has detailed instructions. I'll also give you this post, EOFY FAQs and Resources 2022, which you may find helpful.
As per the ATO, the deadline for STP finalisations is the 14 July each year.
Please let me know if you need further help.
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