Xero to MYOB STP opening balance transfer
Hi.
I have used Xero from 1/7/2022 to 30/04/2023. And then I changed software to MYOB until today.
I reported Xero's BMS ID successfully with ATO.
The problem is Single Touch Payroll transfer.
In Xero, the STP closing balance of one of my employees is $30,000.
(1) How and where in MYOB can I put the $30,000 in the MYOB? (It should be the openning balance of MYOB).
(2) Is this openning balance presenting on his wage payslip?
(3) After the "End of financial year" finalisation, do I have to finalise both Xero and MYOB together? or MYOB only?
Hi IANTAX
Thank you for your post. In regards with STP after transferring to MYOB, the first thing we need to check is the proper set up of your STP under MYOB, second is to notify the ATO that you’re using MYOB for STP Reporting. For the opening balance you will need to enter that on the employee card file if you tend to finalize and zero out the STP report from the previous software. On the other hand, if the STP on Xero wasn't finalize yet then there's no need to enter an opening balance for that employee as it will just a continuation of the figures you have previously reported to the ATO under STP, unless we are referring to Leave Entitlement Balances.
Those opening balance can't be seen on the employee wages pay slip. It will just show under EOFY finalization tab, and it will not be going to reflect on the software. Lastly, on this process of EOFY Finalization, you don't need to finalize Xero and MYOB together, it will be just the MYOB that you’ll need to process.
Providing you this Help Articles: Set up STP and Notify ATO for STP that has all the detailed information and steps to help you along the process.
Do let me know if you have any further questions.
Otherwise, if my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.
Cheers,
Shella_A
