Forum Discussion

LornaC2019

Experienced User

4 years ago

Closing a payroll Year

Good Morning , We are about to process our first payroll for FY 22. I read that the payroll year will be automatically uploaded without us doing anything our end. When i try to retrive a entitlem...

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Tracey_H
4 years ago
LornaC2019

Thanks for that information Lorna. If you haven't processed a pay for this payroll year the FY 2022 option won't be available. Once you've processed a pay you should be able to run those reports. Please do let me know if you have further problems.

Tracey_H

Former Staff

4 years ago

HI LornaC2019 and MarkOBrien

Thanks for your post. Firstly I just want to clarify that there are two different "years" and so two different processes.

The "payroll year" - this is automatically rolled over in the latest versions of AccountRight. This means that you can process pays in the new payroll year and process adjustments/finalise STP in the previous year at the same time. The software will automatically select the correct financial year and tax table according to the payment date entered when processing the payrun.
The "financial year' - this needs to closed by the user but is not typically done until the accountant has provided EOY adjustment journals and lodged the tax returns. You can check the financial year in Setup>>Company Information>>Current financial year.

Please let me know if you need further help.

If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.

LornaC2019
Experienced User
4 years ago
Hi Tracey,

Thank You for all your information. I am a bit perplexed as we closed off the FY 2019/2020 year previously .

I had a look at our company information and it notes the current financial year as "2021" . We are still busy closing the books so cannot close FY 20/21 as yet ... Can we only access the entitlemnts report once we close the year in MYOB ?

If we are only ready to close the books after the next payroll ( in the next fortnight ) how are we to access the reports( entitlements) for next FY22?

Thanks
lorna
Lorna
- Tracey_H
  Former Staff
  4 years ago
  Hi LornaC2019
  
  My apologies, I gave you the wrong information on the payroll reports. You should be able to run those reports for the current payroll year regardless of the financial year. I do get the correct year options when running the entitlement reports in my software:
  
  Can I get you to check the version of AccountRight you are using, you can find this is Help>>About MYOB AccountRight?
  - LornaC2019
    Experienced User
    4 years ago
    Hi Tracey,
    
    Version : AccountRight Plus AU 2021.3.0
    
    Thanks
    Lorna