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End of payroll year tasks

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At the end of the payroll year (EOPY), all you need to do is finish paying your employees for the year, check your payroll data and finalise with the ATO.

Remember, you need to finalise your payroll information before the ATO deadline, which is typically July 14.

To ensure everything goes smoothly, make sure you're using the latest AccountRight version. This gives you access to the latest features and helps keep you compliant.

Need some guidance?

Check out our end of payroll year tasks MYOB Academy course or the EOFY hub for key end of year dates and resources.

1. Finish your pay runs for the year


Enter all pays up to 30 June and report them to the ATO. If a pay period includes dates in June and July, the date it's paid determines which payroll year it belongs to.

New to doing a pay run? Learn how to do it.

  1. Go to the Payroll command centre > Process Payroll.

  2. Choose the employees you're paying and set the pay dates, then click Next.

    The Payment Date determines which payroll year the pay belongs to, even if the pay period has dates in June and July. Pays dated 30 June or earlier will be included in the finalised year.

  3. Review the pays and click RecordComplete the pays as normal.

  4. If you've finished all your pay runs, go to the next End of payroll year task.

Found something wrong in the pay? Don't worry, you can fix it.

2. Check your payroll data


There are some key reports you should run to make sure your payroll data is accurate.

  1. Before you do the first pay in the new payroll year – make sure the Activity Summary and Register Summary reports match. Here are more details about running these reports and what to do if they don't match.

  2. Before finalising with the ATO – make sure the YTD verification and Payroll Summary reports match. Here are more details about running these reports and what to do if they don't match.

3. Tell the ATO about terminated employees


If you terminated any employees during the year, make sure you've notified the ATO of the terminations.

  1. Go to the Payroll command centre > Payroll Reporting.

  2. Click the Employee terminations tab and enter the termination details.

4. Send your payroll data to the ATO


Let the ATO know you're done for the year by finalising your Single Touch Payroll information. Do this before the ATO's deadline, which is typically 14 July.

  1. Go to the Payroll command centre > Payroll Reporting.

  2. Click the EOFY finalisation tab and choose the Payroll year you're finalising.

  3. Select each employee you want to finalise and click Finalise and notify the ATO.

Once you've finalised, your employees will be able to log into my.GOV to complete their annual tax returns.

Your business should now be using Single Touch Payroll (STP) Phase 2 reporting to stay compliant with the ATO. If you haven't moved to STP Phase 2 yet, get set up now.

What's happens now?

There are some non-payroll related end of financial year tasks you should take a look at. After which, that's it – you're done for another year! No need to prepare payment summaries (STP replaces the need to do this), and the 1 July tax tables have been downloaded automatically for you, ready to use. Also, the super guarantee rate increased to 11% on 1 July 2023, but we have you covered – find out how to automatically stay compliant with your superannuation obligations.

See you in 12 months...