EOFY is nearly here and to make this time easier for you, below are the steps to finalise your year-end payroll.

1. After you have processed the final wages for the year, in the Single Touch Payroll form, tick the Final Event Indicator (termination pays will automatically be ticked) checkbox.

2. Ensure that the Payment Date under STP Values is correct and matches the Payment Date on your Employee’s List.

3. Select [New File] as the Lodgement File Type.

4. Type your name in the declaration section, tick the authorisation box and either [Validate] or [Send] the lodgement.

5. You can check the status of the lodgement by selecting [Other Functions], then [History]. To verify the pays, you need to log into the ATO portal.

Note: If you need to correct a pay after you have lodged it, delete and redo the pay, then send it as an update, only the last payment can be sent as a replacement. For duplicate pay – do a $0 pay and send as an update.

If there is no pay to be processed, like in case of casuals, do a zero pay and send as a new file, OR send an update for their last normal pay ensuring the Final Event Indicator is marked (If this had not been done when it was first lodged).

6. The last step is to start a new financial year. To do this, in Wages, go to [Tools] in the top left, select [Financial Year], [Start New] and [Save].

Did this answer your question?