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Run both the Payroll Activity Summary report and the General Ledger report in Xero and ensure the amounts in the relevant accounts match. Use our Auto Super feature to batch pay your super contributions. This process uses a third party clearing house, SuperChoice, so we’ll recommend a submission date for batches that takes into account bank clearing times throughout the process. Keep on top of your reporting so your books are ready for end of the financial year.
Use our handy guide to know what tasks to complete at tax time. If your Xero plan allows, you can set up bank feeds to eliminate the need to import transactions manually. This automatically imports transactions from your bank or financial institution directly into Xero. Xero will calculate super based on the statutory rate in line with the ATO, automatically applying the updated rate to your pay runs that fall in the new financial year. Get EOFY-ready with our helpful list of common terms to help you navigate your end of financial year.
Open the EOFY jargon buster. Identify and fix payment summary errors , then republish. Submit payment summary annual report to the ATO. Report the payment summaries to the ATO. Ask our community of customers, accountants and bookkeepers. Skip to main content Search icon Search Xero Central.
Create summaries for labour hire and some employment termination payments ETPs. You need to manually produce summaries for labour hire and other ETP types. You need payroll admin access to prepare payroll data for the end of the financial year. Reconcile payroll data with the general ledger Run the Payroll Activity Summary report and make sure you select all employees and the financial year you’re checking.
Xero and Capital One partner to help rewire the small business economy by 11 May Small businesses name Xero the most-loved accounting software for the second year in a row by Trent Innes 24 August Show all. One comment Dropped out before it finished but generally informative Reply.
Leave a reply Cancel reply Your email address will not be published. Popular this week New Ultimate plan offers most comprehensive Xero package for small businesses 26 April Xerocon Sydney: Xerocon returns to Australia 15 March Xero’s commitment to gender equality and fair pay for all 2 March Xero and Capital One partner to help rewire the small business economy 11 May Trailer Happiness: Serving party goers a taste of Carnival spirit in Notting Hill 25 August Related articles.
FAQ – Tax time answers for completing your financial year end. Video – Refresh your knowledge: end your financial year in Xero. Checklist – Complete your financial year end in Xero. Financial year end is the perfect time to do a check-up, celebrate your successes, and refocus on business goals. Workshop – Set up for success next year 21 July. Small business guide – Complete your tax tasks on time with Xero. Like I said, we really do have you covered. New Ultimate plan offers most comprehensive Xero package for small businesses.
Xerocon Sydney: Xerocon returns to Australia. Xero’s commitment to gender equality and fair pay for all. Xero and Capital One partner to help rewire the small business economy.
Reporting – it just keeps getting better! Small businesses name Xero the most-loved accounting software for the second year in a row. Your email address will not be published. Save my name and email in this browser for the next time I post a comment.
Make this AU Payroll year end the smoothest yet | Xero Blog
1. Process any pay runs for the /22 financial year · 2. Reconcile your accounts, comparing the Payroll Activity Summary report and the General Ledger · 4. 14 July: Reconcile your payroll in Xero so you can submit your end-of-year finalisation declaration via Single Touch Payroll (STP) by 14 July. Learn how to complete end of financial year requirements for Payroll and submitting your paperwork with the HMRC.