Key resources for end of financial year processes for MYOB Exo Employer Services
Purpose
This information will assist you in processing the end of financial year (EOFY) in MYOB Exo Employer Services.
Disclaimer: This information about how to use MYOB Exo Employer Services is of a generic nature and is based on information supplied by MYOB. Not to be relied on for legal, accounting or employment advice.
MYOB Exo Employer Services 2025.01 Compliance Release
The 2025.01 release updates MYOB Exo Employer Services to comply with government requirements for the 2025–2026 financial year. You don't need to wait until the new financial year to install this release, as the compliance changes won't be activated in the product until 1 July 2025.
The MYOB Release Notes detail the following changes:
- Student loan repayment threshold.
- Employment Termination Payment (ETP) threshold amounts.
- Child Support Protected Earnings Amount (PEA) for child support deductions.
- Compulsory Superannuation Guarantee rate increase from 11.5 % to 12.0 % (warning message will appear when creating a pay from 1 July 2025).
- Maximum Earnings Base for super guarantee contributions.
- Victorian state payroll tax.
Upgrade Resources
Read the MYOB Exo ES 2025.01 AU Release Notes in full
Install or Upgrade MYOB Exo Employer Services
EOFY Payroll Processing Webinar
This is a recording of the BusinessHub webinar held on 19 June 2023 at 2PM AEST.
EOFY Webinar Private Link
Click here to access the recording from outside the KnowledgeHub.
EOFY Payroll Processing Guide
The MYOB EOFY Guide recommends that you complete the following tasks (in this order):
- Load reportable fringe benefits against employees.
Employees that were terminated during the financial year and that require RFB to be updated should be reinstated using their original start date before RFB are loaded, and then their termination status, date and reason reinserted afterwards. - Print payroll reconciliation reports including trial balance, pay summary, costing analysis and superannuation summary.
- Finalise the 2024-25 financial year after you have completed all pay runs for the 2024-25 financial year, by creating a backup, submitting the Year End Finalisation declaration to the ATO via STP and changing the lockdown date to 30/6/2025.
- Prepare for the 2025-26 financial year by upgrading to MYOB Exo Employer Services 2025.01. Check that the release installed successfully on the Help > About menu.
This is the final Year of MYOB Exo Payroll
Remember, the MYOB Employer Services Product will be Sunset in November 2025. It is important that you have transitioned from Exo Payroll to a replacement well before this date.
Buisinesshub can assist to decide upon a suitable replacement and if that solution is MYOB Cloud based Advanced Payroll, we can ensure the transition is as smooth and beneficial as is possible.
Pathway to MYOB Cloud Payroll
BusinessHub is an MYOB Advanced Platinum Partner, and we're here to help you transition to cloud payroll. BusinessHub offers:
- An express implementation option for cloud payroll for clients transitioning from MYOB Exo Employer Services to MYOB Advanced cloud payroll using the MYOB Adapt tool with the same organisational structure, pay item configuration and payroll data.
- A standard implementation of cloud payroll for clients transitioning from MYOB Exo Employer Services to MYOB Advanced cloud payroll, that allows clients to revise their organisational structure, pay item configuration and payroll data during the implementation.
Learn more about MYOB Advanced Cloud Payroll and Workforce Management
Online demo: MYOB cloud payroll and workforce management (sign in for access)
Online demo: MYOB Advanced Payroll Reporting (sign in for access)
Book a meeting with David Taylor to discuss your cloud payroll requirements
Questions?
If you have more questions, please contact BusinessHub's support desk on 1300 733 071 or raise a Support Case.