End of Payroll Year with STP - MYOB Essentials

MYOB Product Team Haydes
6,187 Posts
MYOB Product Team
Australia
MYOB Product Team

6,187Posts

1,013Kudos

0Solutions

End of Payroll Year with STP - MYOB Essentials

Hi Everyone,

 

End of Payroll Year is almost upon us and for many of you this would be the first EOPY with STP. Things are a tiny bit different now that STP is here and the aim of this post is to give you everything you need to keep it simple.

 

Before we go on, here are some helpful notes that can give you a helping hand if you get stuck:

 

With that out of the way, here are the basic steps to helping complete your EOPY using STP:

 

Ensure that you’ve entered all pays to 30 June 2019 before continuing. At current, if you run another Pay Run for the 2019 year in July the STP report will be rejected using MYOB Essentials.

To make sure your PAYG figures are correct, you should attempt to reconcile the Year-to-Date PAYG figures collected during the Payroll Year to the PAYG payments made to the ATO throughout the year. You can use the Payroll Summary and Payroll Detail reports for this.


To reconcile PAYG withholdings you’ll need to total all the payments that have been made to the Australian Taxation Office during the year. Compare the total payments made to the ATO with the total PAYG figures appearing on the Payroll Summary and Detail in Essentials.


Total PAYG remitted to the ATO $
Total PAYG showing on the Payroll reports $
Variance $


If there is a variance between the PAYG remitted to the ATO and the Payroll reports is not equal to the amount still unpaid, you’ll need to print these payroll reports for each month and compare them to the figures paid to the ATO for the PAYG Withholdings until you find the discrepancy.

If you have started STP after you have terminated some employees, their data may not have been sent to the ATO with your first Pay Run after activating STP.

 

In order to send this data to the ATO, it depends on the their final pay. For details on how to proceed with this, see the bottom FAQ on this support note: End of year finalisation with Single Touch Payroll reporting

  1. Go to Payroll > Payroll Reporting.
  2. Click the EOFY Finalisation tab.
  3. (Optional) To enter RFBA, click the Overflow menu , and select Enter RFBA. More information: Reportable fringe benefits (RFBA) with Single Touch Payroll reporting.
  4. Select each employee you want to finalise, then click Set as Final.
  5. Enter your name and click Send.

Each employee that has been finalised will have the Final indicator ticked.

 

And that's it! By the time 01/07 comes around your Essentials account with automatically load the new Tax Tables and be ready for the new Payroll year.



Cheers,

Hayden (Ex-Moderator)
MYOB Product Team
Didn't find your answer here?
Try using advanced search to find a post more easily Advanced Search
or
Get the conversation started and make a new post Start a Post