Review payroll transactions for EOFY
At the end of the financial year reconcile your payroll to the general ledger and fix any errors.
Ensure you've posted your last pay run for the financial year before continuing.
Review your payroll data with the general ledger for any errors before generating your employee’s payment summaries
Run the Payroll Activity Summary report and make sure you select all employees and the financial year you're checking.
Run the General Ledger Report, select the financial year and sort by Account Name. Both the Cash Basis and Show YTD fields should be clear.
Use the following table to check your payroll data by matching the report balances in your Payroll Activity Summary report and the General Ledger Report.
|Matching report balances|
|In your Payroll Activity Summary||In your General Ledger Summary|
|Total Earnings||should match||Total Wages and Salaries|
|Total Super||should match||Total Superannuation|
|Total Tax||should match||Total PAYG Withholding Payable|
If balances don't match check your Pay Run History to find the pay run with the error and process an adjustment.
Once all balances are correct, you need to review the payment summary amounts.
Review the payment summary details and fix any errors
Run the Payment Summary Details report,select all employees and the financial year you're checking before reviewing the amounts for each employee.
If you find any incorrect amounts in the payment summaries, you will need to fix these before you continue.