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IANTAX's avatar
IANTAX
Contributing User
2 years ago

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?

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  • Shella_A's avatar
    Shella_A
    MYOB Moderator
    2 years ago

    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

    • gavin12345's avatar
      gavin12345
      Ultimate User
      2 years ago

      Hi IANTAX 

       

      I would recommend you treat the 2 periods as separate reporting periods. Finalise Pays processed via Xero to end that period. You should be able to Finalise these now without having to wait until 30 June. Finalising is a process that changes the Income Statements to 'Tax Ready'.

       

      Start 2nd period with MYOB to 30 June 2023. Your employees will have 2 income statements, one generated through Xero for the first period and then one generated thru MYOB for the rest of the year. This is the easiest approach.

       

      If you try to include YTD amounts from Xero in MYOB, you risk employees ending up with 2 income statements with duplicated amounts. To avoid this you would need to zero out all amounts reported via Xero before you leave Xero (as alluded to by Shella_A ). Reporting a Previous BMSID to avoid duplication will not work - this is because MYOB uses consecutive numbers for EmployeeIDs where as Xero users a GUID for Employee ID's. Previous BMSID only works to avoid duplication when the EmployeeID's match in both systems.

       

      Regards

      Gavin