Completing your EOFY payroll

Finalising your year-end payroll

It's important to note the final pay period for the financial year is the one that is PAID before the end of the financial year. The first pay period of the next financial year is the first one that is PAID during the following financial year. This means that it is normal to have a first pay period that includes days from both financial years. Any tax or superannuation changes in the new financial year will apply to the entire pay period in that first pay run. 

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. All employees need to have a final event indicator for finalise the end of financial year.

 

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].

6. To verify the pays, you need to log into the ATO portal and have your employees check their myGov accounts to confirm the figures are correct.

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.

 

What if there is no pay to be processed? 

If there is no pay to be processed for employees, like in case of casuals, you can either enter a pay for them with an amount of $0 dollars and send this 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).

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