how to roll over payroll for end of financial year without using STP in myob

Hi rsw 

Whether using MYOB for STP reporting or not the process is the same. Make a backup. Then begin to process payroll. Once you set Payment Date to 1 July 2023 or later and click Next, AR2023 will automatically close the 2023 PY and open the 2024 PY in the background. It will also load the new tax tables if you are eligible.

Regards

Gavin

Hi, rsw 

Thanks for your post, and Welcome to MYOB Community Forum.

In addition to the information that gavin12345 provided, if you are not using STP you can start the new financial year by going to Business settings > Start a new financial year. Before rolling over to the next financial year, kindly make sure that all your reports are in order and everything is balanced. You may also check The Help Article End of financial year in Australia for further information when rolling over to the next financial year. 

Please let me know if you need further assistance.

Best regards,

Doreen

Hi rsw 

Take care - my post refers to the Payroll Year. Post Doreen_P  refers to Financial Year. Ensure you understand the difference between the two. This may also vary depending on the software you are using. 

Basically the Payroll Year will be changed for you by MYOB. The Financial Year will not. It is way too early to be thinking about rolling over a financial year. This should only be done after your accountant has finalised all tax matters for the 2023 Financial Year.

Regards

Gavin

Hi gavin12345 

Thank you for sharing your insights regarding the difference between the Financial Year and Payroll year. I appreciate you taking the time to post this information as this will also help others, and I totally agree with this as rolling over your payroll year is different from closing the financial year. 

Cheers,

Princess