EOFY 23-24 - Step 2 - Final Payroll & STP Submission

While you submit your final payroll and STP for this financial year, you will to follow a slightly modified payroll process:

1. Check for any outstanding shifts
2. Run your final cut off payroll
3. Send your final STP
4. Finalise your payroll tax

Part 1: Check for any outstanding shifts:

Before running your final payroll for the current financial year, we would recommend that you review the confirmed shifts area in finance and ensure that there are no outstanding shifts that require payment, invoicing, or both.

Remember, you can discard the remaining half of any shifts that are at pay only or invoice only status by right-clicking on the timesheet number and selecting discard shift permanently. Please only do this if you are not going to process the remaining half of the shift. 

For further information on this topic: Processing/Confirming Shifts.

Part 2: Run your final cut off payroll:

Your final cut-off payroll is signified by the end of the financial year date that is set in your system. Once you have processed a pay run with this date as a week-ending date, you will not be able to process any further payrolls in the current financial year.

Any payrolls processed with a week-ending date post your current end-of-financial-year date will be considered a new financial-year payroll. Before running this final cut-off payroll, please ensure all adjustments that are required have been included in this, or a previous, payroll.

For further information on this topic: Payroll Process

Part 3: Send your final STP

Now, having completed your cut-off payroll, so long as you are happy with the reconciliation of your final payroll with your final GL and that your final Payroll Summary and General Ledger match. Note that since you would have reconciled to the end of May, you will only need to ensure that the month of June is correct. Once all is correct and you are satisfied that your payroll for FY24 is complete - go ahead and submit your final STP.

When submitting - please ensure that the below highlighted tick box (confirming whether or not this week is the final payroll for the financial year) is selected and then submit your STP.

For more information on Single Touch Payroll - Single Touch Payroll

For those of you who are using branches, please ensure that you do not submit a final STP for any branch until you are satisfied that all branches are complete and correct.     

Part 4: Finalise your payroll tax

Before setting up your financial year, please finalise your payroll tax by reviewing the report: Payroll Tax Report

Please review any other required reports (have a look through: Finance Reports)

Once you have completed the above, feel free to move on to: Step 3: Configuring the new FY