End of payroll year tasks

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AccountRight Plus and Premier, Australia only

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

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.

Super rate increase from 1 July 2021

The mandatory superannuation guarantee rate increases from 9.5% to 10% from 1 July 2021.

Before you do your first pay in July, you should check that your superannuation guarantee payroll category is set to 10%.

What you need to do

At the end of the payroll year, you simply need to ensure you've paid your employees up to June 30 and finalised your STP payroll reporting with the ATO.

Task

1

Enter all pays up to 30 June. 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

3

Finally, let the ATO know you're done for the year by finalising your Single Touch Payroll information. You'll need to do this by July 14.

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.

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

What's happens now?

The superannuation guarantee rate increases to 10% from 1 July 2021, so check your super rate before processing your first pay in July.

You no longer need to close the payroll year, prepare payment summaries or load new tax tables (this happens automatically).

And that's it—you're done for another year!

See you in 12 months.

End of financial year tasks

End of period procedures

From the community

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