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We Love Admin – Gold Coast Bookkeeping News

Are You Ready for the End of The Financial Year?
Friday, 13 June 2008

The ATO tax tables are changing on 1 July 2008 (which means that your staff's net or "take home" pay will change), and there are a few things you will need to do BEFORE you run your first payroll in the new financial year:

Finalise any payroll up to 30th June
Make a back up
Print all payroll reports for the year, the quarter and the last pay run, including super (you wont be able to afterwards)
Reconcile your PAYG and super accounts
Make a back up!
Print your PAYG payment summaries (formerly Group Certificates)
Make a back up! (yes, it is that important!)
Start a new payroll year
Load the new tax tables

When you have successfully loaded the new tax tables you will be ready for the new financial year payroll.

If you need any help completing the above, we can provide you with training to help you through, or we can perform the necessarys teps for you.

If you aren't sure whether you are compliant, we can also help. We can supply the new versions of MYOB to get your tax tables up to date, or provide consultation to ensure that your internal procedures are correct. Contact us to find out more.