Preparation for EOFY 2020 Software Updates & Tax Tables

AccountRight and Reckon Accounts/ Hosted have released software upgrades ahead of the End Of Financial Year.   Please see below for enhancements in time for EOFY Single Touch Payroll Finalisation.

AccountRight

Ensure you have updated to the latest version 2020.2.2.

  • MYOB released a patch to v2020.2 to fix an error regarding payroll super and expenses calculations.

Summary of enhancements:

  • From AccountRight 2020.2.2 onwards, the right tax tables will be used based on the pay date.  So, if you process a pay on 30 June 2020, the 2019-20 tax tables will be used.  Process a pay on 1 July 2020 and the 2020-21 tax tables will apply.
  • Without the need to load new tax tables, this also means you won't need to close (roll over) the payroll year.  It also means you can make adjustments in the previous payroll year.
  • Close a Payroll Year has been removed.
  • Note that Close a Financial Year has NOT been removed.
  • You can now make adjustments in other financial years without having to roll back the current year. (refer next bullet point)
  • The Roll Back a Financial Year option in the File menu has been removed.

This means:

  • For new files created in 2020.2 and later you can create, reverse, edit, delete transactions in any prior year.
  • For existing files upgraded to 2020.2 you can create and reverse transactions in any prior year; And you can edit and delete transactions in the previous year.
  • A new Pay Frequency of Quarterly in the employee's card.
  • Sort by employee's name in the STP reporting centre.
  • Check in / Check out function has been removed, also from the File menu so has the Sync function.
  • Removal of Prepare Payment Summaries (Australia).
  • More space for text.
  • More memory.

For more information please go to:

https://community.myob.com/t5/The-AccountRight-Blog/AccountRight-2020-2-is-now-available/ba-p/651730


Reckon Accounts/ Hosted

Reckon Hosted 2020 R2 was released on Tuesday 23 June 2020 at 4:30pm.

Reckon Accounts 2020 R2 contains some SDK enhancements.  If you use a third party application that works with Reckon Accounts, please consult with the provider prior to upgrading to Reckon Accounts 2020 R2 to ensure the integration continues to work seamlessly.

Make sure you have completed all of your 2019/20 financial year payroll before upgrading to 2020 R2 as the upgrade includes new tax tables for the 2020/21 tax year.

Summary of enhancements:

  • The latest PAYG Tax Tables for the 2020/21 Financial Year.
  • The Home page has received a facelift with new colours (applies to default themes only) and modern icons.
  • Special tags can be used in emails which will be replaced by the relevant information when the email is sent.
  • Current Availability option is now available for the supported Item types in the Retail edition of Reckon Accounts Premier and Enterprise.
  • Print/email Payment Receipt of Invoice.
  • Search for employee record/s based on your chosen criteria.
  • Search for an item by its barcode in the Invoice.  You will need to add the new Barcode column in your Invoice template first to use this feature.
  • Add a Secondary ID of your business.  For example: NZBN, ACN etc. (Company Information window)
  • You can then add this Secondary ID in your Invoices by customising the Invoice template.
  • Added Email Pay Slips and Process STP buttons on the Confirmation and Next Steps window after you complete a Pay run.
  • More Salutation options to choose from that matches your personality.
  • You can find it from Edit > Preferences > Send Forms > Company Preferences.
  • An Overdue Stamp now shows only if you have used a Term and the due date is passed.  We've also reduced the stamp's size and added a transparent background.
  • If you do not wish to utilise the overdue stamp feature remove TERMS from the applicable template.
  • Lodge Tax File Number (TFN) Declaration through STP via Reckon GovConnect.
  • Simplified the Single Touch Payroll Lodgements window.
  • Effective from 1 January 2020, you can no longer use Salary Sacrifice to reduce Employer Contribution (SA, CA).
  • You will now get a warning message if you want to select this option that can be found under Employee > change tabs to Payroll and Compensation Info > Super Details .
  • Reckon Accounts/Hosted 2020 R1 includes the latest Western Australia State Payroll threshold that has been increased to $950,000, effective from 1 January 2020.

Resolved Bugs

  • Cannot email Employer SGA Contributions Report if the first Employee from the list is not selected.
  • No employees show in the STP Lodgement screen if the computer date is set to the US format.
  • ETPPaymentDate is mapped with PayeeStopDate (Release Date) instead of PayDay (Payment Date) of the ETP payment for Finalise Event.
  • Replace ", carriage return and tab with blank text when exporting STP json file.
  • SUMETP on the exported STP payevents includes the total of LumpSum A,B, D, E amounts instead of the total of ETP Payments only.  Please note that this field data doesn't get sent to the ATO and is only shown on the Reckon GovConnect for reference.

For more information please go to:

https://help.reckon.com/article/btnrvoe4yz-reckon-accounts-2020-r-1 
https://help.reckon.com/article/gqhxr1lbpy-reckon-accounts-2020-r-2-whats-new

Reckon One

  • Updated automatically to include 2020-21 Tax Tables

Xero

  • Updated automatically to include 2020-21 Tax Tables

 

 

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