Release Date: 10-Mar-2015
Author: Justin C
End-of-Year processing will generate Certificates of Earnings for each employee to show their Gross Taxable Earnings, PAYE etc. for the financial year. Any employees who wish to complete a tax return may need this information. In addition to the Certificate of Earnings, other useful year end reports available are the ACC Premium Report and YTD Summary Report.
There will be a charge on your April invoice for End-of-Year Processing. This charge is based on 70 cents for each employee paid in the financial year and covers reports, certificates and the additional processes required to ready the file for the new financial year.
End of year processing for 2014/2015 will occur automatically during the first pay-run that has a payday that falls in April 2015, with the direct credit release date determining when the payday occurs. The actual period-end date of a pay-run does not influence this decision.
When a pay-run is deemed to be the first for April 2015 all end-of-year processing for that company will be actioned as at the previous pay period.
A pay-run with a period-end date of 29th March 2015 is given a DC Date of 30th March 2015.
- The calculated payday is 29th March 2015.
- The pay-run will be included as March in the 2014/2015 financial year.
- No End-of-Year processing will take place.
A pay-run with a period-end date of 29th March 2015 is given a DC Date of 31st March 2015.
- The calculated payday is 1st April 2015.
- The pay-run will be part of April with end-of-year reports printed prior to processing the pay details.
- This payroll will be the first of the new 2015/2016 financial year.
IT IS IMPORTANT THAT YOU ARE AWARE OF WHICH FINANCIAL YEAR A PAYRUN SHOULD BE INCLUDED.
If you require adjustments for the 2014/15 financial year and you have already run your last “live” pay-run for that year, then the adjustments must be in a manual run:
Before the first pay-run with an April payday, AND with a Direct Credit Date of 30 March 2015 or earlier.
The direct credit date of an adjustment run is critical as it must ensure that the calculated payday will fall in March, i.e. the DC Date must be the 30th March 2015 or earlier. If the DC Date of the adjustment run is 31st March or later, or if the adjustments are left until the next period, they will be included in the new financial year.
SHOULD YOU REQUIRE ANY ASSISTANCE IN REGARDS ANY OF THE ABOVE, PLEASE CONTACT THE DATACOM ANSWER CENTRE ON PH 0800 856 856 BETWEEN 8:30AM AND 5:30PM MONDAY-FRIDAY, WHERE ONE OF OUR CONSULTANTS WILL BE PLEASED TO HELP.