- Check ALL employees details for current addresses and tax file numbers
- Remove any full stops and commas from addresses
- Check terminated employees have a termination date
- Check annual leave and personal/carers leave entitlements flag has ‘Carry Remaining Entitlement’
- Reconcile total gross wages to payment register YTD report to wages expense YTD
- Reconcile outstanding super liability = unpaid superannuation for the month/quarter
Reports to print
- Payroll payment register summary YTD
- Payroll entitlement balance summary/detail
Reconcile PAYG Withholding
- Reconcile outstanding PAYGW liability = unpaid PAYGW for the next BAS
- Reconcile unpaid PAYGW to balance sheet PAYGW liability
- Check PAYGW paid for the year equals payroll summary YTD Tax
- Check PAYGW paid for the month/quarter = payroll summary monthly/quarterly
What information is required for Payment Summaries 2013/2014
When preparing for end of year payroll you need to check that all required information is available.
- Obtain the FBT reportable amounts
- Obtain the RESC amounts for the payment summary, especially when the accountant maybe managing the super contributions based on tax planning.
Other employee’s details to review and check are:
- Employee current address
- Employee TFN
- Employee entitlements up to date
- Terminated employees in prior years deleted or flagged to not report with payment summaries
- Terminated employees in 2013 if ETP involved, were ETP payment summaries issued at the time of termination
- Check RESC superannuation contribution categories are correctly linked in payment summary
Contact the accountant and/or business owner for information which you may require from them, and also report to both parties at end of year. See Reporting to the Client and the Accountant for templates and checklists.
What is RESC?
Reportable Employer Superannuation Contributions that an employer makes on behalf of their employees.
RESC includes contributions where an employee influences the rate or amount of super contributed for them and additional contributions made above the compulsory contributions of 9.25% SGC. These Reportable Employer Super Contributions are for contributions before-tax and not after-tax. Below is a table showing some scenarios defining whether the super is RESC or not.
When do I have to prepare 2013/14 Payment Summaries?
Payment summaries for employees have to be provided to employees by 14 July 2014 and lodged with the ATO by 14th August.
How do I lodge 2013/14 Payment Summaries with the ATO?
For June 2014 payment summaries, the ATO has advised that they will only accept electronic lodgement of the EMPDUPE file. This can be done through your own ATO business portal or our BAS Agent portal.
How do I Provide the Payment Summary to the employee electronically?
Payment summaries may be provided to employees electronically. You must advise employees how they can access their payment summaries and make available the means for viewing and printing the payment summary if requested.
Where you are intending to provide payment summaries electronically, you need to contact your employees and advise them that they can receive their payment summaries:
- electronically or
- on paper
You can consider that an employee has agreed to receive their payment summary electronically if they do not respond to you by a due date.
All electronic payment summaries you provide must:
- be non-editable
- use letter quality print so that it may be easily read
- transmitted to the employee by electronic means
You will also need to:
- tell your employees when the payment summaries are available and ensure they know how to access and print them, and
- ensure the method you choose to distribute electronic payment summaries to your employees is secure enough to protect the tax file numbers and other personal information, and to meet your obligations under privacy and taxation law.
If you need assistance with any of your EOFY payroll processing, please contact us on 1300 662 958.