It’s almost Easter, and after Easter comes the next big thing: Financial Year End. That time of year when Payroll Administrators stress the most. However, you need not stress too much- now is the perfect time to start checking and balancing off your reports.
- Balance your PAYG, employees gross earnings and any ETP’s you may have had during the year.
- It is FBT Year End at the end of March. Start getting all that information together and you can load the figures against the relevant employees using a ‘One off pay’. Double check your dates are correct- the FBT year runs from 01 April 2012 to 31 March 2013. If you load an employee’s figures using dates after March 2013, the figures will not appear on the employee’s Payment Summary for this financial year.
- When printing reports, always check report options and make sure that ‘Show terminated employees’ is always ticked and print reports using physical pay date.
- Balance your Pay summary and Superannuation reports to the employees Individual Non-Business payment summary. By doing this now you can cut down on some of the stress you may experience at the end of the Financial Year.
Good luck and remember, we are only a phone call away if you need a hand.