A crucial part of wrapping up EOFY is reconciling the STP finalisation report to the Detailed Activity Report.
Each finalisation event is based on a 'pay schedule'. If you have more than one pay schedule set up in the business you will need to create and lodge a finalisation event for each one and therefore will also need to reconcile each event separately.
You can download the STP finalisation report directly from the finalisation event. There are 2 reports available for download within a finalisation report. Excel and Excel (YTD).
Excel - this report will contain the information for only the employees that were included in the finalisation event.
Excel (YTD) - this is the report you will need to use for reconciliation! The year to date report includes payroll data for all employees attached to that pay schedule relating to all events successfully lodged with the ATO. This includes any employees that had previously been marked as final during the financial year (and did not appear in the finalisation event).
N.B. If an employee's pay has not been successfully lodged with the ATO during the financial year, it will not appear in the report.
From the reports tab,> single touch payroll screen > click on the finalisation event you would like to reconcile > actions > Excel (YTD) > the report will save to your downloads folder. You will then need to download the corresponding Detailed Activity report.
Note - when you generate the detailed activity report make sure you filter this report for the same pay schedule as the finalisation event you are reconciling.
To reconcile the reports:
In the STP finalisation report, you've downloaded:
- Add the figures from each of the following columns: :
- Gross Payments;
- Allowances;
- Lump Sum A (Type R & Type T);
- Lump Sum B, D & E;
- CDEP payments;
- Exempt foreign employment income;
- Not Reported (this is the ETP amounts from the separate tab); and
- Payroll Pre Tax Deductions. - This amount should be the same total as the Gross Earnings column in the Detailed Activity report (- rounding).
The Payroll Gross Earnings column in the finalisation event (Excel YTD) report should be exactly the same as the Gross Earnings column G in the Detailed Activity Report.
N.B. The total from 1. should be the same as the total from 2. (allowing for rounding)
For more information about EOFY, see our End of Financial Year 2018-2019 - Guide
If you have any questions or feedback, please let us know via support@yourpayroll.com.au