This article will link to all the relevant articles which are required to complete the preparation for End Of Financial Year obligations.
Please note to close and reopen Wagemaster and Agrimaster at different intervals to make sure you have backups of your work done.
- Update To The Latest Version Of Wagemaster.
- Ensure You Are On The Latest Version Of Agrimaster.
- Determine The Last PPE (Pay Period Ending Date) For EOFY - If your Pay Period Ending date is June 2022, and your EFT payment date is before Thursday 01 July you can skip this step and step 4 and 5.
- Adjust Taxation Year-End Boundaries For End Of Financial Year.
- Determine And Adjust Super Boundaries.
- Confirm Company Details - Review your company details in Wagemaster by checking the legal/trading name, ABN and addresses, etc ensuring they are all correct.
- Confirm Allowance And Deductions Settings.
- Check Employee Details.
- Confirm Superannuation Settings for 2021/2022.
- Enter Fringe Benefits - If applicable.
- Reporting Fringe Benefits Tax Exemption - If applicable.
- Process Your Final Pay Run By 30th June - If you want to fall within this financial year.
- Process Your Super Payments By 30th June - If you want to fall within this financial year.
- Reconcile Wages And Tax In Wagemaster And Agrimaster.
- Reconcile Super Between Wagemaster And Agrimaster.
If this is your first year using Wagemaster and you used a different payroll program you may need the follow the below depending on if you finalised wages on the other payroll solution.
- Check Previous Earnings From Your Old Payroll System
- Enter Your Year To Date Totals Into Wagemaster From Your Old Payroll System