At End of Year, you can balance the Payroll Report with STP Update. To do this, watch the video or follow the steps below:
Go to Payroll, Reports, Transactions, Payroll Report.
Select all Pay Frequencies.
Ensure YTD Cumulatives From and To Dates include all period end dates in the Financial Year.
Under Totals Options, tick Show Company Totals.
Tick Include Employees not Paid and Include Terminated Employees under the Display Options.
Produce the report and save or print a copy.
Next go to Payroll, Transactions, Import and Export, STP Update.
Select the Payroll Company. If you have multiple companies, you will need to run them separately.
Tick All for Employee and select the current Financial Year.
Under Finalise Employees, tick All Employees paid in the selected Financial Year.
Click Apply.
This will populate the STP Update grid with all employees paid in the selected Financial Year.
Ensure that the grid includes the below columns:
Gross Taxable
PAYGW (Tax)
ETP PAYGW Total (Tax for ETPs is in a separate column and needs to be added to PAYGW (Tax) to balance to the Payroll Report)
FEI Aus Tax Paid (if you have employees with Foreign Employment Income and the Transaction Paid option is Values not in System)
Net Pay
If the columns are not in the grid, right-click and choose Customise Grid Columns to drag the columns into the grid.
Using the table below, compare the values on the Payroll Report to the totals at the bottom of STP Update for each company.
Note: You can use Save Grid to export the data to Excel or Print Report to produce a report version. Totals are not included in the export or the report.
Balance Payroll Report with STP Update
| Payroll Report |
| STP Update |
Gross Taxable |
| Gross Taxable |
|
Tax (Incl Adjust) |
| PAYGW (Tax) + ETP PAYGW Total - FEI Aus Tax Paid* |
|
Net Pay |
| Net Pay |
|
* This is only for employees with Foreign Employment Income types and the Transaction Paid option is set as Values not in System.
If you want to balance values entered as RFB Exempt, RFB Taxable, Exempt Foreign Income, or Foreign Employment Income, you can include these columns in the STP Update.
If you want to balance Super Liability (SG) to the Payroll Report Superannuation value, you will need to take into account:
Any Employer Contribution allocated to Reportable Super (RESC). These values will display in the RESC column.
Any Employer Contribution that has been excluded from STP Reporting.
Any Employer Contribution that is set up as a deduction but flagged as Employer Contribution (STP).