Forum Discussion

SophieBPC's avatar
SophieBPC
2 months ago

Incorrect TFN how to update income statement

We have recorded a wrong TFN against an employee, we have completed end of year and everything has been finalized. I have changed the employees TFN now however how do we update/change their payment s...
Princess_R's avatar
Princess_R
MYOB Moderator

Hi SophieBPC,

 

I understand that you've recorded an incorrect TFN for an employee and now need to update the payment summary after end-of-year finalisation. To fix this, you just need to ensure that you have corrected the TFN in the employee's card file. Then, go to your STP reporting screen and send an update event. This will notify the ATO about the changes you've made.

 

Feel free to get in touch if you need more help.

 

Cheers,

Princess

 

 

SophieBPC's avatar
SophieBPC
31 days ago

Hi Princess, 

 

Thank you for your reply, just checking this will then create an income statement/payment summary for the employee or are we better off going into the completed year 23-24 and removing/unticking their completed finalization and re running it? 

  • Princess_R's avatar
    Princess_R
    MYOB Moderator
    30 days ago

    Hi SophieBPC,

     

    Thanks for getting back to me! You can fix the TFN in the employee's card file, then undo the finalisation, send an update event, and finalise again. This should sort out the TFN on the employee's income statement. Let me know if there's anything else I can assist you with.

     

    Cheers,

    Princess