Closure of payroll before new payrun?

jzfoong
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Closure of payroll before new payrun?

Just a quick question: Do I have to close off the payroll for FY2019 before I start another payrun for FY2020? I am due to submit a payrun at the end of this week and need to confirm if payroll closure needs to be done first. We used to do our wages manually before now (hence the newbie type question!).

 

We are currently using MYOB Essentials Payroll to submit our data for STP.  Thanks Smiley Happy

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MYOB Product Team Haydes
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Re: Closure of payroll before new payrun?

Hi @jzfoong 

 

Short answer: You don't need to roll over in Essentials. You can start processing your payrolls right now.

 

Payroll in Essentials is completely different than AccountRight, come 01/07 the devs input the new Tax Tables so that you can start processing Payroll Entries for the new year. No need to roll over before being able to process pays in the near year.



Cheers,

Hayden (Ex-Moderator)
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jzfoong
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Re: Closure of payroll before new payrun?

Hi Hayden,

 

Thanks for your response! Does this mean all I have to do now is to check the employees and set them as final (in Payroll Reporting Centre -> EOFY Finalisation)?

 

Thanks,

Josh

MYOB Product Team Haydes
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Re: Closure of payroll before new payrun?

Hi Josh (@jzfoong

 

Exactly, once you have finalized the previous Payroll Year to the ATO you can start processing your pays and sending the new reports to the ATO for the new year.

 

Hope this clarifies things, let me know if you have any extra questions on this.



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Hayden (Ex-Moderator)
MYOB Product Team
jzfoong
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Re: Closure of payroll before new payrun?

Sorry Hayden (@Haydes ), I just had one more question.

 

Am I able to process a pay run without finalising the previous Payroll Year to the ATO? Or must I finalise the previous Payroll Year before sending new reports to the ATO?

 

Thanks,

Josh

MYOB Moderator Maxine_BC
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Re: Closure of payroll before new payrun?

Hey @jzfoong,

 

Thanks for being patient.

 

As you may have already done, yes you should complete your finalization before processing new payruns so that the ATO knows you are finished sending STP reports for the last financial year.

 

Hopefully this helps.

Cheers,
Maxine

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