To ensure you're compliant and ready to commence the new financial year on 1 April, there's a few things you need to do at the end of the financial year. The tasks below outline what you need to do before processing pays for the new financial year.
For information on the latest Payroll version and other great EOFY resources, visit myob.co.nz/eofy.
Complete the following before March 31:
Install the latest Payroll version. You MUST do this before you enter an April date in the Current pay ended on date field. Visit myob.co.nz/eofy for information on updating your Payroll software.
|title||Finalise pays and print reports|
Finish the last pay of March.
Complete an additional backup (keep one off-site). See Creating a backup for instructions.
Print the following reports:
(Optional) Print the following reports. These will all print on one page per employee:
- Complete the month-end process (go to the Process Pays command centre and click Change PAYE Period).
|title||Roll into the new financial year|
In the bottom-right corner of the Payroll window, change the Current Pay Ended date to your first pay date in April. You'll be prompted to update your PAYE Period - follow through this process.
|UI Text Box|
If any employee's holiday anniversary or sick leave anniversary occurs between your last pay and the first pay date in April, then their leave details will need to be updated using the normal procedure.
- During this process a Change PAYE Period message appears - click YES.
- Click OK to the confirmation message that your PAYE period has been updated.
Your payroll year will now have rolled over and you will be able to successfully process your pays in the new financial year.