As we move to a fresh new financial year it’s time to prepare End of year Payroll.
This often highlights issues when you have changed to Xero from another accounting software.
Your move to Xero has no doubt made managing the finances easier to manage, however what happens if you have done some of your payroll in your previous system?
It depends on whether you filed STP in the old system or not.
Click here for Xero’s support notes if you used STP in your previous payroll solution
Click here for Xero’s support notes if you did use STP in your previous payroll solution.
It is all about when to select the Opening Balances tab in the STP settings or not.
If you have used STP in July 20 in your previous system, you do not want to select the opening balances as it may duplicate the payroll amounts in the individual’s income statements in MyGOV.
If you are unsure – log into your MyGOV and see what income the ATO has for you.
Process the STP finalisation – just for yourself.
Wait for a few hours and then log into your MyGOV and see what income the ATO has for you.
If the amount in your Income Statement is incorrect you can fix in Xero and process it again.
Click here for Xero’s support notes about fixing STP filing errors.
If you have further issues, the Benkorp team are waiting to take your call. Our online support sessions start from $55.
Book a chat with us now through Support: https://www.benkorp.com/assistance-services/