EOFY Finalisation - YTD verification report and Payroll Summary reports do not match due to a non reportable wage item. Is this acceptable?
Hello, I am doing EOFY Finalisations. There is a wage item for an employee that is "staff reimbursements" for a busines purchase they made that I've reimbursed them for. I believe I set this up properly using MYOB's help page for this. When I pull the Payroll Summary report, the amount includes the reimbursement. When I pull the YTD verification report, the amount is "$34.19" less which is the exact amount of the reimbursement. I believe that because this wage item is "not reportable" it will not show up in the YTD verification report. I've pulled summary reports for each employee and added the gross figures which equals the same total as the YTD verification report but again is missing the "$34.19" reimbursement amount. When following MYOB's steps for preparing for EOFY, it says that I can't finalise until the Payroll Summary and the YTD Verification reports match. Because the reimbursements wage item is not reportable, I don't think these reports will ever match. Would I be correct in believing that this is okay and I can continue with my EOFY finalisations even if the Payroll Summary and YTD Verification reports don't match because of this non-reportable wage item? Or could it be that I've gone wrong somewhere. I've changed the ATO category, reversed the pay-run and re-done the pay-run and it hasn't changed anything. If there's any advice or tips any of you could give me that would be so helpful. It could be that I don't need to worry about the reports not matching but I would like to be sure. Thank you in advance :)SolvedSTP not balanced
I have another post going as ETP is not showing on STP - I'm waiting for a response to correct this. Once this is fixed, it looks like I'm still going to be out. Everything matches between STP verification report and payroll summary except for total salary and wages. Where do I look to find the difference/error?24Views0likes1Comment
EOFY Numbers are not matching with Payroll Records
Hi there, As I'm trying to perform year end processing for payroll, however, I find a significant gap in all the numbers between our payroll records and EOFY session on MYOB. Could you please assist as I will need to do the first payment for new FY next week? Much appreciated, Patricia Trinh141Views0likes0CommentsEnd of financial year GJ000000 journal entry
Hi, I'm new to MYOB and this September/October 2022, will be my first time using MYOB for the end of financial year processes. I've seen this journal entry, GJ000000, and would like to know what's going on behind the scenes. I can see that it transfers my current year profit or loss to my retain earnings. I assume it does this by summing total credits and debits from all the income and expense accounts and combining appropriately. Is this calculation done everytime you run create a balance sheet? Or is there a psuedo-account somewhere with this information stored? Through out the year the current year profit or loss 'account' appears to not be a real account in that there are no transactions made to it. The figures displayed in the interim balance sheet reports are calculations, made real when you close the financial year through the journal entry GJ000000. Is this true? Does this journal entry, GJ000000, do away with the need to manually close the income and expense accounts? Ie. Do I still need to debit my income accounts and credit my expense accounts to zero them and transfer the balance to Equity (retained earnings)? Regards, Greg749Views0likes2Comments
EOFY STP Reporting - Adding Section 57A RFBA for Charity
Looking forward to some assistance with submitting the Section 57A RFBA amounts for the annual pay. This is for a non-profit with 74 employees, of which 25 received RFBA which are salary sacrifice deductions that do not report automatically (until Phase 2 of STP). 1) RFBA is enabled. 2) The finalization/notification of pays to ATO for all staff is revoked. 3) The Section 57A RFBA amounts for the 25 employees is inserted (whole dollars only) and the box to the left of their names is ticked. 4) Attempt to <Finalize and report to ATO> and authorise the submission for these 25 employees. Error message: "Something went wrong. Please try again or refresh the browser." 5) Refresh browser and repeat. Same result. This is now a circular loop that I am stuck in. Welcome any assistance.291Views0likes1Comment
Praise for Sean
Trying to get the payroll to balance to the payroll verification report and coming up against a number of challenges. It certainly highlighted some gaps in my understanding of what can go wrong. I finally got on to the right person who told me the difference was caused by some inactive employees. I reinstated those and ran a final paycheque and it fixed the issue. I note that none of these steps were found in the help files. I cant thank Sean enough. Seriously great work. Kevin V Russell249Views1like1Comment
Payroll - Urgent
Hi all I am wokring off Accounting Right Premier. I cant process any pays after 30 June 2022. The tax tables have been updated, but when i try to record it keeps on recording $0 pays and will not process. Any help would be great. I also pay using Accounting Right Plus, and this file seems to be able to process new pays. So not sure what is going on. Thanks1.2KViews1like59Comments
Updating price/item list for new financial year
hi guys, wanting to know if there is any way to update the prices in the item list ahead of time - for instance, wanting to change around 1500 item prices for the new financial year friday, can i change them to come into affect from Friday or do i need to adjust all on friday in one big hit? help appreciated!Unable to reconcile STP
Hi MYOB I am stuck - 1 client cannot reconcile STP Reporting with ATO figures. I have tried everything - all the tricks that have fixed things and nothing works. Yes this client started late in the year - no problem except for terminated before this date - these fixed - untick termination date run $0 payroll - voila fixed. 9 employees - half these figures match - have ticked and finalised 5 remaining refuse to budge no matter what I do. When problem 1st noticed - difference between last payroll run report accepted by ATO and final figures - no logical reason. So ran a zero payrun for staff member (single to test if fixed) - no change. Then ran payroll for 29/6/20 for single staff member which was difference between ATO figure (which was correct) and finalisation figure in STP Payroll reporting - this fixed it for this staff member. Great - then ran it for other staff members same method - didn't fix/change/alter anthing in Payroll centre. Did it individually - adjustment, then $0 - nothing worked. STP Payroll centre now stuck with 5 staff I cannot reconcile. This is MYOB problem I suspect not ATO. Urgent assistance please? The DocSolved1.7KViews0likes8Comments
STP not balanced
I have another post going as ETP is not showing on STP - I'm waiting for a response to correct this. Once this is fixed, it looks like I'm still going to be out. Everything matches between STP verification report and payroll summary except for total salary and wages. Where do I look to find the difference/error?