Skip to content

End of year finalisation with Single Touch Payroll reporting

AccountRight Plus and Premier only

Before finalising

  • Tick

    Enter all pays up to 30 June (pays recorded with a July payment date which include June pay dates aren't included in the finalised year)

  • Tick

    Fix any incorrect pays

  • Tick

    Check that pay runs sent during the payroll year have been accepted by the ATO.

  • Tick

    Note that rejected reports retain a Rejected status. This is OK if reports since the rejected one have been accepted by the ATO.

What happens when I finalise?

  • You'll start by checking some payroll reports to make sure you've reported everything correctly to the ATO.

  • An update event is sent to the ATO to let them know you're finalising your payroll year.

  • The status of the employee's income statement in myGov changes to Tax ready so they can pre-fill and lodge their tax return.

If you're stuck or feeling unsure, try our free eLearning to discover everything you need to know about finalising your payroll information.

1. Compare payroll reports before the first pay in the new payroll year

Before processing the first pay of the new payroll year, you should confirm that the amounts you've paid your employees in AccountRight match the amounts that are listed against each employee's record. This will identify if any amounts have been incorrectly entered against an employee's pay history instead of being paid via payroll.

You'll do this by running and comparing the Activity Summary and Register Summary reports.

Here's a quick overview:

  1. Go to the Reports menu > Index to Reports.

  2. Click the Payroll tab.

  3. Run the Activity Summary and Register Summary reports for the entire payroll year, e.g. 1 July 2022 - 30 June 2023.

    Report names highlighted
  4. Compare the totals at the bottom of each report. If they match, great! You're ready to continue with your finalisation process as described in the next task.

2. Confirm the STP amounts you've reported to the ATO

Before finalising, you should check that the year-to-date (YTD) amounts you've sent to the ATO for the payroll year match the payroll figures in AccountRight.

Do this by comparing two reports to ensure they match:

  • the YTD verification report in the Payroll Reporting Centre—this shows the YTD amounts you've reported to the ATO

  • the Payroll Summary report in AccountRight—this shows the YTD amounts you've processed through payroll in AccountRight

3. Notify the ATO of terminated employees

As part of processing an employee's final pay, you need to notify the ATO. This lets the ATO know the employee's termination date and any ETP components in their final pay.

You might have completed these steps when you processed the employee's final pay. If you didn't, complete these steps for each employee you terminated in the payroll year.

The steps for notifying the ATO of a terminated employee are slightly different for STP Phase 1 and STP Phase 2 – so choose the steps that apply to you.

Am I reporting via STP Phase 2?

You can check in the STP reporting centre (Payroll command centre > Payroll reporting Payroll Reporting Centre). If you don't see this label, you're on STP Phase 1. How do I get ready for STP Phase 2



4. Finalise your Single Touch Payroll information

Finalising your Single Touch Payroll information is done in just a few clicks. Make sure you do it before the ATO's finalisation deadline, which is typically July 14.

  1. Go to the Payroll command centre and click Payroll Reporting.

    Payroll command centre with payroll reporting highlighted

  2. Click Payroll Reporting Centre.

    Payroll reporting centre button highlighted

    If this button says Connect to ATO, it means the company file hasn't been set up for Single Touch Payroll, or you haven't added yourself as a declarer for STP.

  3. If prompted, sign in using your MYOB account details (email address and password).

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

    STP reporting centre with payroll year highlighted
  5. If you need to report fringe benefits for an employee (what is this?)

    • If you're on STP Phase 1

      1. Click the ellipsis  button for the employee and choose Enter RFBA.

      2. Enter in both the:

        • Reportable fringe benefits amount $

        • Reportable fringe benefits amount exempt from FBT under section 57A $
          The combined value of these must be above the thresholds set by the ATO.

      3. Click Add amounts.

    • If you're on STP Phase 2

      1. Select the option Enable RFBA at the top of the screen. Columns for RFBA ($) and Section 57A ($) appear.

      2. For each employee with fringe benefit amounts, enter the reportable values. The combined value of these must be above the thresholds set by the ATO.

        • RFBA ($) - these are reportable fringe benefit amounts

        • Section 57A ($) - these are fringe benefit amounts exempt from FBT under section 57A (see the FAQ below for details).

  6. Select each employee you want to finalise, then

    • if you're on STP Phase 1, click Set as Final

    • if you're on STP Phase 2, click Finalise and notify the ATO .

  7. When prompted to send your payroll information to the ATO, enter your details and click Send.

When you finalise, an update event is sent to the ATO containing the year-to-date payroll totals for the finalised employees. You can see this update event listed with your other payroll submissions on the STP reports tab. How to view your submitted payroll reports.

What's next?

Each employee that has been finalised will have the Final indicator ticked in the payroll reporting centre. You can let these employees know that they can now sign in to myGov to complete their tax returns or view their income statement. That's right—you don't need to prepare payment summaries or group certificates for them!.

Providing you're using the latest AccountRight version, you're ready to start processing pays from 1 July for the new payroll year. The latest tax tables will automatically apply so you don't have to worry about downloading them. Also learn about the new option in AccountRight to keep you compliant with super guarantee rate increases.

You must be reporting to the ATO via STP Phase 2

If you haven't already, you need to move to STP Phase 2 to stay compliant with the ATO. But we have you covered – see how easy it is to move.

FAQs