Bringing the Year to Date figures to AccXite for Single Touch Payroll lodgement
If you are new to AccXite, one of the first questions that you will have is how to record the payments that have already been paid during this financial year? As always AccXite gives you few options to accomplish this.
Option 1: Enter Every Pay Run
You can enter each pay run from the first pay run of the financial year to the current one. The benefit of this approach is this will keep all the records in the system (including hours worked if you chose to enter it) forever. Also, it gives you plenty of practice and compare each AccXite’s pay run with your information to identify any settings that have not been set up correctly. The drawback is of course it is time consuming.
Option 2: Enter figures in 1 Pay Run
You need to generate a new pay run and set the date from to the first date of the first pay run and to the last date of the last pay run. Set the payment date as the last date of the last pay run. Then you can enter the total year to date figure in the “Wages – Manual Entry” under “Manual Wages, and Other Special Items”. The save the pay slip.
Tax Withheld Figure: Review the tax calculated at the bottom of the pay slip under Payment Summary. The tax usually wouldn’t match your figure because of the difference in the periods. Click Edit and tick the box "Tax - Override Automatic Calculation". In the box that shows up over ride the automatically calculated tax figure with the desired figure.
Superannuation: Under Superannuation Summary, please review the ordinary times earnings and Super guarantee figure. If they are not what you expect, tick the box that says "Superannuation - Override Automatic Calculation" and enter the desired figures.
Annual Leave and Personal Leave Figures: Under Leave Summary, you need to also enter the year to date annual leave balance under “Manual Annual Leave Hours” and Personal Leave Hours (commonly known as sick leave hours) under “Manual Personal Leave Hours”. Now you can submit the Pay Run to the ATO.
The benefit of this approach is it saves you from doing data entry. However, you need to ensure you adjust the tax manually.
Note 1: With this approach, you don't need to change the Pay Period Frequency (found in the Business Setup). All you need to do is save the pay slip, scroll down to check if all the amounts at the bottom of the pay slip are correct. If not edit and save them manually in the pay slip.
Note 2: With this approach, if you have employees who don't usually get super because they usually earn less than $450 per month, you need to double check their super figures for the 1 full month after your conversion. This will ensure no super is paid in that month, just in case the system (depending on your payment dates) think that the employee earned more than $450.00 in that month.
Transferring the figures to AccXite from your current system is pretty straightforward. However, you still need double check all the figures to ensure they are correctly entered before you submit them to the ATO. Now you can start your proper pay run. Your correct year to date figures will automatically be picked up by AccXite.