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Not using AccountRight 2020? See the help for MYOB Essentials | MYOB AccountEdge | MYOB AccountRight v19 | MYOB Payroll (NZ)

At the end of the payroll year (EOPY), all you need to do is finish paying your employees for the year, check your payroll data and finalise with the ATO.

Remember, you need to finalise your payroll information before the ATO deadline, which is typically July 14.

To ensure everything goes smoothly, make sure you're using the latest AccountRight version. This gives you access to the latest features and helps keep you compliant.

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AccountRight Plus and Premier, Australia only

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At the end of the payroll year, it's all about your employees and the ATO. Just ensure you've paid one and reported to the other.

Take a look:

Finally, let the ATO

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title	What you need to do

Task

1

Enter all pays up to 30 June 2020. If a pay period spans the payroll year, it's the payment date that determines which payroll year it belongs to. Need a payroll refresher?

2

Check the year-to-date amounts you've sent to the ATO for the payroll year. You can do this in the Single Touch Payroll reporting centre (Payroll > Payroll Reporting > Payroll Reporting Centre).

Learn about checking YTD totals

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Known issue 01/07/2020 - Leave error in AccountRight 2020.2

Are you seeing an error like this when processing leave for an employee in the new payroll year?

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This is because the employees' leave balances haven't carried over from last payroll year, but they will when you record your first pay.

So, in most cases you can ignore this warning and process the pays as normal.

When you record the pay, your employees' leave balances will carry over from the previous payroll year.

End of payroll year has never been easier.

If this is your first time, you'll find there's not much you need to do. If you're an old hand at payroll, you'll notice there's now a lot less to do.

Get started by installing the latest AccountRight version. It has everything you need to make end of payroll year a breeze.

Important changes for 2020

For those who have struggled through year-end in the past, you'll be pleased to know we've removed a lot of the tedious tasks, including

installing a compliance update
closing the payroll year
manually loading new tax tables
preparing payment summaries

If you're keen to learn more about these and all the changes in the latest AccountRight version, see the AccountRight blog.

OK, let's get into it.

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Need some guidance?

Check out our end of payroll year tasks MYOB Academy course or the EOFY hub for key end of year dates and resources.

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title	1. Finish your pay runs for the year

Enter all pays up to 30 June and report them to the ATO. If a pay period includes dates in June and July, the date it's paid determines which payroll year it belongs to.

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New to doing a pay run? Learn how to do it.

Go to the Payroll command centre > Process Payroll.

Choose the employees you're paying and set the pay dates, then click Next.

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The Payment Date determines which payroll year the pay belongs to, even if the pay period has dates in June and July. Pays dated 30 June or earlier will be included in the finalised year.

Review the pays and click Record. Complete the pays as normal.
If you've finished all your pay runs, go to the next End of payroll year task.

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Found something wrong in the pay? Don't worry, you can fix it.

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title	2. Check your payroll data

There are some key reports you should run to make sure your payroll data is accurate.

Before you do the first pay in the new payroll year – make sure the Activity Summary and Register Summary reports match. Here are more details about running these reports and what to do if they don't match.
Before finalising with the ATO – make sure the YTD verification and Payroll Summary reports match. Here are more details about running these reports and what to do if they don't match.

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title	3. Tell the ATO about terminated employees

If you terminated any employees during the year, make sure you've notified the ATO of the terminations.

Go to the Payroll command centre > Payroll Reporting.
Click the Employee terminations tab and enter the termination details.

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title	4. Send your payroll data to the ATO

Let the ATO know you're done for the year by finalising your Single Touch Payroll information.

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Learn everything you need to know about finalising your payroll information with our free eLearning. Also check our EOFY hub for key end of year dates.

Do this before the ATO's deadline, which is typically 14 July.

Go to the Payroll command centre > Payroll Reporting.
Click the EOFY finalisation tab and choose the Payroll year you're finalising.
Select each employee you want to finalise and click Finalise and notify the ATO.

Once you've finalised, your employees will be able to log into my.GOV to complete their annual tax returns.

That's right—no need to prepare, print or email payment summaries. This is 2020, not 1985.

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Receiving JobKeeper payments?

Don't forget you need to provide monthly declarations to the ATO about your current and next month's turnover under the JobKeeper scheme.

Also, at the start of the new payroll year in July 2020, you'll need to resubmit your eligible employees' First Jobkeeper fortnight. Learn more...

Your business should now be using Single Touch Payroll (STP) Phase 2 reporting to stay compliant with the ATO. If you haven't moved to STP Phase 2 yet, get set up now.

What's happens now?

You're all There are some non-payroll related end of financial year tasks you should take a look at. After which, that's it – you're done for another year! No need to prepare payment summaries (STP replaces the need to do this), and you're ready to start processing pays in new payroll year.the 1 July tax tables have been downloaded automatically for you, ready to use. Also, the super guarantee rate increased to 11% on 1 July 2023, but we have you covered – find out how to automatically stay compliant with your superannuation obligations.

See you in 12 months...

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