Payroll crossing over 2 financial years.
Hi Everyone. I have looked everywhere for an answer for this but cant really find a clear one, so I thought i would try my luck here and ask. I pay our employees fortnightly. So the next pay day...
Forum Discussion
Hi KylieD
Thanks for your post.
Generally speaking, when that transaction should be recorded/reported and what payroll tax tables be used will depend on the payment date of that transaction. If the payment date falls in July, you would complete your end of payroll year task, roll your payroll year and update the tax tables before processing that transaction in the new payroll year.
If the payment date falls in June, you would record the pays in June and then complete your end of payroll year task. And as for Betts23 has mentioned, yes, The National Minimum wage will take effect on July 1 and it will reflect on your first pay run.
If you need further assistance with this. feel free to post again. We're happy to assist.
Kind Regards,
Cel
