30/04/2020 by Collins Hume - We Believe in Business | Ballina Byron Bay 02 6686 3000
JobKeeper and bookkeeping tips from Chris Atkinson
Today's video message covers JobKeeper, particularly bookkeeping and wages.
Be sure to watch the content and read below for more information about some handy links:
While we have been working tirelessly to help as many clients as possible to enrol in the JobKeeper program, we have also been receiving an enormous number of queries regarding payroll and how to set up and manage your records to comply with JobKeeper requirements.
While each software program is slightly different in its approach, they all share the same fundamental steps. Listed below are the key points for the four major programs.
The main point to be made at this time is that you have to enrol each eligible employee into the JobKeeper System for the fortnight that you want them to commence receiving payments. If you don't complete the enrolment step your STP reporting will not meet the ATO's requirements. It is also extremely important to select the correct starting fortnight as there is no way you can correct this on your own and if you make a mistake you will need to contact your software provider to fix it for you. Some of them, including the ATO, do not yet have a mechanism to do this.
There is no external link for instructions simply use the Help Function for JobKeeper and you will get the step by step guide
To enrol staff you must submit a payrun that includes the JOBKEEPER-START-FNXX pay item
For those who are not yet on STP (Single Touch Payroll) The ATO will provide a means for those still using manual payroll to report for JobKeeper but you may want to consider taking this opportunity to get started. If you have arm's length employees you are already required by the ATO to be registered. If you have closely held employees you will need to be registered by 1st July this year.
For everyone else out there stay well and let us know if you need out assistance by calling the Collins Hume team on 02 6686 3000.