Its time to start thinking about your 30 June Payroll Tasks. 30 June is fast approaching and we suggest you start the reconciliation process now.
Set out below are our recommended steps:
Print Payroll reports prior to printing summaries.
Check that the total of the gross wages equals the amount showing in your trial balance for Wages.
Check that the total of the gross wages equals what you have reported to the ATO on your BAS for the year.
Look at the tax withheld and check it balances to the amounts remitted to the ATO on your BAS (small differences are expected due to rounding)
Then print your PAYG summaries.
Check that the summaries equals your payroll reports, and therefore your BAS lodged.
Superannuation, check that all super has been paid for the year and that the rate used was 9.5%.
Balance to what is showing in your Profit and Loss and what is unpaid at 30 June.
Check that the total net payments (gross less GST) of all contractors on the form equals the figure for contractors in your Profit and Loss.
If any of these do not balance or you have questions either,
