Training and guidance on year end processing and finalisation in MYOB Advanced Payroll
Purpose
Training Coverage: Guide to month-end and year-end processing in MYOB Advanced Payroll.
Audience: Designed for pay masters who are responsible for completing month-end and year-end processing in MYOB Advanced Payroll and submitting a Finalisation Event via STP.
Total training time: 30 minutes.
Recommended learning approach: This basic guide on completing month-end processing in MYOB Advanced, and is provided subject to you obtaining your own accounting and financial advice based on your organisation-specific needs.
Disclaimer: This information about how to use MYOB Advanced is of a generic nature and is based on information supplied by MYOB Australia. Not to be relied on for legal, accounting, taxation or employment advice. BusinessHub makes no warranties in relation to and is not responsible for information contained in third party websites.
EOFY Process Videos and Resources
MYOB's EOFY Payroll Processing Guide 2023
The MYOB End of financial year procedures 2023-24 Guide - Australia is now available.
The guide includes a checklist for EOFY procedures and covers compliance changes related to MYOB Advanced Payroll for the 2023-24 financial year, including new tax rates and thresholds in the Dynamic Calculation Engine (DCE) which are scheduled for release on 15 June 2023.
No MYOB Advanced Payroll upgrade is required, as the DCE the system automatically applies the new rates and thresholds for pays dated 1 July 2022 or later (unless you have elected to Override Legislated Rates in your pay item setup).
Additionally, there are three new tax treatment codes for working holiday makers, which will be available in upcoming Advanced Payroll upgrades.
Reconcile Pay Deductions and Salary Sacrifice
Reportable Fringe Benefits
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Questions?
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