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Intuit

Creating and Lodging an Amended Finalisation Event

 
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Best answer June 01, 2020

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Intuit

Creating and Lodging an Amended Finalisation Event

Have you lodged a finalisation event for your employees but now need to adjust an employee/s' earnings? If so you will need to lodge an Amended Finalisation Event

 

Note: Amendments are required to be lodged within 14 days of identifying the discrepancy.   

 

 

This article will guide you through how to lodge an amended finalisation event for businesses reporting through STP. 

 

How to create an Amended Finalisation Event

 

  1. Select Employees from the left-hand menu 
  2. Select the Reports tab 
  3. Select Single Touch Payroll (Located under ATO Reporting)
  4. Select the dropdown arrow next to Start Finalisation Process and choose Create an amended Finalisation Event

 

Note: The Create an amended Finalisation Event option will only appear after you have successfully lodged a finalisation event with the ATO.

 

An Amended Finalisation Event wizard will now launch

 

  1. Select the relevant Pay Schedule 
  2. Select the relevant employees under the Amended Employees dropdown 


Note: The Amendment Employees will include all active and terminated employees assigned to that specific pay schedule as their  Default Pay Schedule that have a start date earlier than the current financial year. If the employee you are looking for is not available it is likely they have a different default pay schedule.  

Confirming Payroll Data

On this screen, you should:

  • Ensure the year to date earnings are correct and compare them to the year to date payroll reports 
  • Fix any validation issues prior to lodging (to avoid a failed lodgement).

Note: The amended finalisation event automatically marks all employees in the event as Is Final.

 

 You can also download an excel spreadsheet of the payroll data being reported in the event by selecting Actions and then Excel. To download an excel document containing all employees' YTD payroll data reported through STP, select Actions and then Excel (YTD)


If you have validation issues you should correct them before proceeding, Learn how to troubleshoot validation warnings for STP

 

Once fixed, you can refresh the data in this step by selecting Actions and then Refresh Data

 

Now select Next

 

Entering Reportable Fringe Benefits

 

This step is only applicable if you need to enter reportable FBT. If this is not the case, skip this section by selecting Next

 

There are two methods with entering FBT:

 

Enter FBT Amounts manually

 

  1. Select the Pencil icon next to the relevant employee 
  2. Enter the amount and then select the Tick icon           
  3. Repeat this process for each relevant employee
  4. Select Next 

 

Import FBT Amounts through Excel 

 

If you have numerous employee's it may be quicker to enter the amounts through the import feature.  

 

  1. Select Actions and then Export RFBA Template
  2. Select Download to download a excel template
  3. Open the excel sheet and enter the RFT amount for each relevant employee, then save the document.
  4. Now return to payroll, select Actions and then Bulk Import RFBA 


Notes:

  • If you have multiple pay schedules, there will be separate tabs in the excel document for each pay schedule.
  • Use whole dollar amounts when reporting FBT, do not enter any cents
  • Remember to not include FBT amounts in the employee's gross earnings
  • The amount entered should be the Year to Date amount. If a FBT amount has been previously entered in other events, the amount will already be included in the export. If you need to update an employee's YTD amount simply edit the relevant field.  
  • You must only enter the grossed-up taxable value of these benefits

Requesting Client Authority (for Registered Tax/BAS Agents only)

 

This option will only appear for businesses who have indicated that a registered tax/BAS agent will be lodging reports to the ATO (based on what has been set up under the ATO Settings).

 

You will need to obtain authorisation from your client before proceeding, You can assign one or more approvers and then add a note to indicate the purpose of the amended finalisation event. The user/s  will be notified via email that there is a finalisation event waiting to be actioned.

 

Now select Save for later, while you wait for the approval.  

 

If you have set up Email me when a pay event is approved or rejected through My Notifications you will receive an email when the STP event approver has provided authorisation otherwise you can return to this later once the authorisation has occurred.  

 

Lodging the Amended Finalisation Event

 

The next step is to complete a declaration. Simply read the declaration then select Lodge Finalisation Event.

 You then have the option of either returning to the Payroll Dashboard or to the Amended Finalisation Event 

 

Note: If you have the notification setting Email me when there is a Lodgement error switched on (located in My Notifications) you will be sent an email if there is an error with the lodgement.

Additional setting for tax/BAS agents

Before you are able to lodge the amended finalisation event:

 

  1. Select the 'Registered Tax Agent' option when choosing who is lodging
  2. Assign the authority who has approved the event. If the selected authority's status is showing as awaiting authorisation, the Lodge Finalisation Event button will be disabled until authorisation has been approved, you can reach out to your client to remind them if required.  

Sending Employee Notifications

 

Once the amended finalisation event has been successfully lodged with the ATO, the employee’s myGov display will be updated with the amended information which will be available to pre-fill the employee’s income tax return.

 

You also have the ability to send system-generated email notifications to the employees included in the amended finalisation event.

 

  1. Select Employees from the left-hand menu 
  2. Select the Reports tab
  3. Select Single Touch Payroll (Located under ATO Reporting) 
  4. Select the relevant Amended Finalisation Event 
  5. Select Actions and then Send Notifications  

 

View solution in original post

6 Comments
Intuit

Creating and Lodging an Amended Finalisation Event

Have you lodged a finalisation event for your employees but now need to adjust an employee/s' earnings? If so you will need to lodge an Amended Finalisation Event

 

Note: Amendments are required to be lodged within 14 days of identifying the discrepancy.   

 

 

This article will guide you through how to lodge an amended finalisation event for businesses reporting through STP. 

 

How to create an Amended Finalisation Event

 

  1. Select Employees from the left-hand menu 
  2. Select the Reports tab 
  3. Select Single Touch Payroll (Located under ATO Reporting)
  4. Select the dropdown arrow next to Start Finalisation Process and choose Create an amended Finalisation Event

 

Note: The Create an amended Finalisation Event option will only appear after you have successfully lodged a finalisation event with the ATO.

 

An Amended Finalisation Event wizard will now launch

 

  1. Select the relevant Pay Schedule 
  2. Select the relevant employees under the Amended Employees dropdown 


Note: The Amendment Employees will include all active and terminated employees assigned to that specific pay schedule as their  Default Pay Schedule that have a start date earlier than the current financial year. If the employee you are looking for is not available it is likely they have a different default pay schedule.  

Confirming Payroll Data

On this screen, you should:

  • Ensure the year to date earnings are correct and compare them to the year to date payroll reports 
  • Fix any validation issues prior to lodging (to avoid a failed lodgement).

Note: The amended finalisation event automatically marks all employees in the event as Is Final.

 

 You can also download an excel spreadsheet of the payroll data being reported in the event by selecting Actions and then Excel. To download an excel document containing all employees' YTD payroll data reported through STP, select Actions and then Excel (YTD)


If you have validation issues you should correct them before proceeding, Learn how to troubleshoot validation warnings for STP

 

Once fixed, you can refresh the data in this step by selecting Actions and then Refresh Data

 

Now select Next

 

Entering Reportable Fringe Benefits

 

This step is only applicable if you need to enter reportable FBT. If this is not the case, skip this section by selecting Next

 

There are two methods with entering FBT:

 

Enter FBT Amounts manually

 

  1. Select the Pencil icon next to the relevant employee 
  2. Enter the amount and then select the Tick icon           
  3. Repeat this process for each relevant employee
  4. Select Next 

 

Import FBT Amounts through Excel 

 

If you have numerous employee's it may be quicker to enter the amounts through the import feature.  

 

  1. Select Actions and then Export RFBA Template
  2. Select Download to download a excel template
  3. Open the excel sheet and enter the RFT amount for each relevant employee, then save the document.
  4. Now return to payroll, select Actions and then Bulk Import RFBA 


Notes:

  • If you have multiple pay schedules, there will be separate tabs in the excel document for each pay schedule.
  • Use whole dollar amounts when reporting FBT, do not enter any cents
  • Remember to not include FBT amounts in the employee's gross earnings
  • The amount entered should be the Year to Date amount. If a FBT amount has been previously entered in other events, the amount will already be included in the export. If you need to update an employee's YTD amount simply edit the relevant field.  
  • You must only enter the grossed-up taxable value of these benefits

Requesting Client Authority (for Registered Tax/BAS Agents only)

 

This option will only appear for businesses who have indicated that a registered tax/BAS agent will be lodging reports to the ATO (based on what has been set up under the ATO Settings).

 

You will need to obtain authorisation from your client before proceeding, You can assign one or more approvers and then add a note to indicate the purpose of the amended finalisation event. The user/s  will be notified via email that there is a finalisation event waiting to be actioned.

 

Now select Save for later, while you wait for the approval.  

 

If you have set up Email me when a pay event is approved or rejected through My Notifications you will receive an email when the STP event approver has provided authorisation otherwise you can return to this later once the authorisation has occurred.  

 

Lodging the Amended Finalisation Event

 

The next step is to complete a declaration. Simply read the declaration then select Lodge Finalisation Event.

 You then have the option of either returning to the Payroll Dashboard or to the Amended Finalisation Event 

 

Note: If you have the notification setting Email me when there is a Lodgement error switched on (located in My Notifications) you will be sent an email if there is an error with the lodgement.

Additional setting for tax/BAS agents

Before you are able to lodge the amended finalisation event:

 

  1. Select the 'Registered Tax Agent' option when choosing who is lodging
  2. Assign the authority who has approved the event. If the selected authority's status is showing as awaiting authorisation, the Lodge Finalisation Event button will be disabled until authorisation has been approved, you can reach out to your client to remind them if required.  

Sending Employee Notifications

 

Once the amended finalisation event has been successfully lodged with the ATO, the employee’s myGov display will be updated with the amended information which will be available to pre-fill the employee’s income tax return.

 

You also have the ability to send system-generated email notifications to the employees included in the amended finalisation event.

 

  1. Select Employees from the left-hand menu 
  2. Select the Reports tab
  3. Select Single Touch Payroll (Located under ATO Reporting) 
  4. Select the relevant Amended Finalisation Event 
  5. Select Actions and then Send Notifications  

 

View solution in original post

Level 1

Creating and Lodging an Amended Finalisation Event

Hi can you please confirm, if I create & lodge an amended finalisation event for ONE EMPLOYEE only, will the finalisation of the OTHER EMPLOYEES remain unaffected?

Thanks

Content Creator

Creating and Lodging an Amended Finalisation Event

Hi SoniaDS,

 

That's correct. If you have not made any changes to other employees that have already been finalised, they do not need to be reported in the event. An Amended Finalisation only reports data related to the included employee to advise the ATO of any changes/adjustments made to their earnings and then re-finalises that employee.

 

-Kass

Level 1

Creating and Lodging an Amended Finalisation Event

Kass - Thanks heaps!!

Level 1

Creating and Lodging an Amended Finalisation Event

Hi, 

 

I am trying to amend finalisation event because my amounts for the FY2020 is all zeros. i am the employee and owner of the business. i have unticked the "closely held employee" later. but still my amounts are reported as all zero's. could you please help on fixing this issue?

QuickBooks Team

Creating and Lodging an Amended Finalisation Event

Hi DeviRam33, 

 

If you are running an Amended Finalisation Event because the original Finalisation Event YTD figures were all zeros we need to check first why this is the case. When an employee is showing zero figures for the financial year the first culprit would be that the employees have not had any finalised pay runs for the financial year, meaning no Pay Event was recorded to first instigate this employee's STP reporting.

 

Before checking the pay runs, the first best step would be to go into your pending Amended Finalisation Event, and in the top right select red Delete button. Now that we have the chance to start over, next I would encourage you to check that all your pay runs before the end of the FY are locked and finalised. 

 

When finalising a pay run within KeyPay, the system will prompt whether you would like to create a Pay Event immediately or manually at a later date. For a step by step guide you can click here to see how the process is works. If all your pay runs have been finalised but none of them have yet been lodged with the ATO, in this scenario you would only need to lodge the most recent pay run with the tax office to transfer all YTD figures to your Finalization Event. For steps of how to lodge the most recent pay run please see the following steps:

 

 

When you are ready to lodge the pay event:

  1. Select Employees in the left hand menu.
  2. Select the Pay Runs tab.
  3. Select the appropriate pay run.
  4. Select Lodge Pay Run with ATO.

 

Once you create a Pay Event for your most recent pay run it will be sent to your Single Touch Payroll hub, where under the FY 19-20, you can lodge to the ATO the now created Pay Event. 

 

Once lodged as successful, it will trigger the system to pick up these figures as your official Year-to-date figures on the Amended Finalisation Event you can now generate.

 

Give it a try and if you still get stuck you can always click here to contact us by clicking here

 

-Steven