What's New - Reckon Accounts 2022 R2 - Reckon Help and Support Centre

Missed the new features in the 2022 R1 release? Here is the full list.

New features

Reckon Accounts 2022 R2 contains exciting new features, enhancements and the latest PAYG Tax Scales for the 2022/23 Financial Year.

Compliance updates

Tax scales

Reckon Accounts 2022 R2 contains the latest Tax Scales for the FY 2022/23. The tax rates for personal income tax brackets remain unchanged for the 2022-23 income year. However, the Study and Training Support Loan (STSL) indexation rates have changed.

REFERENCE:
Study and training loan indexation rates.

SGA default rate increase

The ATO has announced an increase to the default Super Guarantee rate as of 1st July 2022, from 10% to 10.50%.

Default Super of 10% in Reckon Accounts will automatically be updated to 10.50%. Before updating your copy of Reckon Accounts, ensure to read and follow the Installation Guide for Reckon Accounts 2022 R2.

Removal of Monthly Minimum Threshold for SGA

The ATO has announced the removal of the $450 Monthly Minimum Threshold for Super Guarantee for all employees starting on the 1st of July 2022. Employers will be required to make super guarantee contributions to their eligible employee's super fund regardless of how much the employee is paid.

REFERENCE
Treasury Laws Amendment (Enhancing Superannuation Outcomes For Australians and Helping Australian Businesses Invest) Act 2021

In Reckon Accounts, the $450 Monthly Minimum Threshold amount for Super Payroll Item types will automatically be updated to $0.00 during the upgrade. This would immediately calculate super contributions payment for SGA for all employees when earnings are greater than zero.

The $450 Monthly Minimum Threshold still applies for pay runs with Payment Date: 30 June 2022. Therefore, make sure to process the final pay for FY2021/22 before upgrading.

For under 18 years old employees, Super payments are:

Required when working more than 30 hours in a week
Not required when working 30 hours or less in a week

For more information, see Important changes to Super Guarantee for employees under 18.

Resolved Issue

Unrecoverable Error when upgrading a Company File from 2007/08 to 2021 R2 or 2022 R1

After installing the 2021 R2 or 2022 R1 version, if a 2007/08 Company File (.QBW) is the first file to be opened and upgraded, the Unrecoverable Error is encountered. This has been resolved.

Enhancement

Updated URL on TechHelp window for Help & Support Remote Assist

Updated the Help & Support - Remote Assist to redirect to the Support website: https://www.reckon.com/au/support.

What's New - Reckon Accounts 2022 R2