JobKeeper Payments with AccXite
With the current climate you might be looking at applying for the JobKeeper payment.
While it is a good initiative by the government, there are lots of things that you need to keep track of on an ongoing basis.
AccXite has the JobKeeper functionality enabled so that you can perform one part of your obligations though the software.
You can read all about the JobKeeper requirements at the ATO Website here.
As you can see from the ATO website, there are lots of issues that need to be considered initially before you apply. You also need to report to the ATO few other reports along the way at certain time periods with strict due dates.
It is highly recommended that you talk to a tax agent regarding these requirements because an error may lead to you have to repay the money, interest and penalties and you will not be able to recover the money that you paid to your employees.
AccXite has partnered with Allmand Jones & Partners, Chartered Accountants to ensure that our clients can access a tax agent to deal with these issues. If you appoint Allmand Jones & Partners as your tax agent, they will be able to help you with the JobKeeper requirements as well as assisting you with accounting and business advice and ensuring that your tax affairs are in order. Should you wish to arrange for Allmand Jones & Partners to assist you please call 03 9629 5855 and ask for JobKeeper assistance.
To Set up and process the JobKeeper STP reporting in AccXite please action the following:
- In your business setup (Actions -> Business Setup -> Select business name) click on “Enable JobKeeper Reporting”.
- This will allow you to select the employees who are eligible for JobKeeper payments.
- This will also create a Top Up allowance called "JOBKEEPER-TOPUP" that you might need to use to make up the difference between $1,500 and the amount the employee usually gets paid.
- Go to your employees (Payroll -> Employees) and ensure:
- All employees for whom you will be claiming JobKeeper payments have the "Eligible For JobKeeper Payment" ticked. All employees for whom you will not be claiming JobKeeper payments have the "Eligible For JobKeeper Payment" unticked.
- All eligible employees have the right start fortnight date at "Starting Fortnight"
- If any eligible employee is not going to get all the fortnight’s payments, the correct "Finishing Fortnight" date is selected (you will do this after the employee is terminated at the time of termination)
- Go to Allowance Types (Payroll -> Allowance Types). Select "JOBKEEPER-TOPUP". If you are going to pay super on the top up supplement (this is optional – please talk to your accountant), please tick the box that says “Include in Super”. If you are not going to pay super, please untick the box.
- Now you can process the pay run as usual. If your eligible employee needs the to be paid additional amount to bring their total gross to $1,500 per fortnight, please go to their pay slip, click edit and then under Allowances click on “+ Add” then select "JOBKEEPER-TOPUP". The units should be the additional amount you wish to pay.
- Now you can submit the pay run to the ATO.
As you can see, lodging the STP reports is pretty straight forward with AccXite. However, as mentioned previously that’s only a small part of your reporting obligation. If you need a tax agent to help you with the rest of the issues, please call Allmand Jones & Partners on 03 9629 5855.