Complete your pay processing for the year, do all your terminations and adjustments and balance your year.
NOTE: Use the ATO Payment Summary Report (Reports > ATO Payment Summaries > ATO Payment Summary Report) to balance to your STP Update screen.
To finalise the year, you have to Report the the ATO an STP Update that has the Final checkbox ticked for all employees. This will also set the employees' myGov accounts to Tax Ready and they will then be able to lodge their returns.
1. Select STP from the Standard Toolbar.
2. Select STP Update.
3. Ensure All Employees is ticked, the correct Financial Year is displaying > OK.
4. Select Mark All as Final. This will tick the Final Pay box for each employee. This step is important to finalise the year and set the employees' myGov accounts to Tax Ready.
5. Review each record you will be reporting in the update event to check the values and information that will be reported. You can compare values with those in the ATO Payment Summary Report checking for correct display of values, i.e. Allowances, FBT and RESC.
6. When you are ready to report the STP Update, click Report to ATO.
7. The Update Event Declaration window is displayed. Tick the declaration. and Report.
NOTE: The STP Update header will show zero values. Double click the Update Event line and you will see your employee's values. All values reported to the ATO are always the employees' LATEST YTD values and never per period values.