AccountRight Plus and Premier, Australia only You must close the payroll year in the last month of your payroll year or soon after. Otherwise, you won't be able to enter pays for the next payroll year. HTML | <iframe width="560" height="315"
src="https://www.youtube.com/embed/z5OHg_OltdQ?rel=0" frameborder="0"
allowfullscreen></iframe>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. UI Expand |
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title | 1. Finish your pay runs for the year |
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| 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. | Need more help? Join a free EOFY webcast and let an MYOB expert explain what you need to do. You can also visit our EOFY Hub that has a checklisk or download a PDF guide. |
Do the following tasks to close your current payroll year and start a new one. Task | |
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1 | Enter all pays for June. | 2 | Review at least the following two payroll reports to make sure the payroll transactions entered for the year are correct: - Register Detail report—shows the pay history of your employees, and is based on the information shown in the Payroll Details > Pay History tab of the employee cards.
- Activity Summary report—shows the pay amounts recorded using the Process Payroll assistant. This report doesn't include manual adjustments to pay history balances in the Payroll Details > Pay History tab of an employee’s card.
Unless you started using the payroll features part way through the payroll year, the totals of these reports should match. | 3 | Prepare payment summaries | 4 | Close the payroll year | 5 | Update the PAYG tax tables |
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