End of Month
The first process for end of the month is the Superannuation Write back
Superannuation Write back
(This is for employees who did not meet the threshold of $450 per month. The super write back will adjust the journals to reduce superannuation, payroll tax and work cover. This will have a greater effect for larger businesses and allows the accounts to reflect correct total costs)
To undertake the Super write back, follow these steps -
- System > Period End > Super write back
- Ensure the correct tax year and corresponding period is selected (eg Period 1 is July and period 12 is June)
- Click Process super write back
A message on the screen should appear as below with the amounts of the write back included.
Super Write Back Complete Tax Year Tax Period Super Payrol Tax Work Cover
Locking periods provides a workflow to divide the year into periods for reporting purposes. This feature is only enabled for Managers who have been set up by support.
Locking periods is done by -
System > Period end > Lock period
* Ensure the period is correct and click "Lock Next Period"