Final Pay Event

From Reckon Accounts 2019 R2 onwards, this option has been replaced with "Finalise Year".

Each year that you report Single Touch Payroll, you need to provide a finalisation indicator for every employee on the last Pay Event that they are paid for in the year, this can be when the Employee has ceased employment due to termination, or at the end of the year when the final company pay event is lodged to Single Touch Payroll.

 

Employees Terminated during the Year

When you process the Termination pay for the Employee and enter a Release Date in the Employee record, that Pay will automatically be flagged as the Final Pay Event in the STP Lodgement for that particular employee. Other Employees can also be lodged to STP for the same Pay Event, there is no need to select the Final Pay Event option on the export window. To confirm that the Terminated Employee's pay has been marked as Final, you can check the Details window in GovConnect.

 

Final Pay Event for the Year

On the Lodge Single Touch Payroll window we have provided a Final Pay Event option, ticking this will assign the final pay indicator to all employees exported in the Pay Event, this is to be used when lodging the final Payroll Event for the financial year.

 

Where to find the Final Pay Event flag in our software

Reckon Accounts / Accounts Hosted

 

 

How did we do?

Preparing your Company File - Reckon Accounts

Commencing Mid Year

Related Articles

Powered by HelpDocs (opens in a new tab)

Powered by HelpDocs (opens in a new tab)