The 2019 financial year has come and gone and with that we welcome you to the 2020 financial year! To ensure you are ready to hit the ground running, we have provided a Xero payroll checklist to assist in your distribution of payment summaries or “income statements” as they are called under Single Touch Payroll (STP) and have all your information and reconciliations up to date.
This Xero checklist will provide you with an overall review and a process from end-to-end, assisting to make certain that your payroll system and process is streamlined and without any hiccups.
It is a useful reminder to:
update any old details,
reconcile the payroll for the year,
process anything outstanding,
ensure you are now STP compliant,
finalise the year end information,
adjust and have your superannuation up to date.
This convenient checklist will put your mind at ease as you methodically work through each of the six key steps, setting you up for a successful 2020 financial year.