I will be moving my payroll over to another software provider due to the Quickbooks/Keypay price increase.
In the new software I have entered the BMS ID and each employees opening balances as of the date of my final pay run with quickbooks (30/3/21). I have also added the new softwares ID in my ato business portal.
Do I need to do anything in Quickbooks to ensure there are no double ups of info reported to ATO? I have read some info that says "zero the employee ytd values in the old software" but I cant find any info on how to do this in Quickbooks?
Thank you for reaching out and welcome to our community!
There are a few options when changing payroll systems during the financial year:
You have been reporting STP from QuickBooks Online/KeyPay, want to migrate YTD figures, and uses the original/previous BMS ID to report STP going forward. The process here will be:
You have been reporting STP from QuickBooks Online/KeyPay and wants to migrate YTD figures using the new BMS ID -
You have been reporting STP from QuickBooks Online/KeyPay, and do not want to migrate YTD figures, but wants to use the new BMS ID -
Thank you and please let us know if you require any additional assistance.
Thanks for your response.
I had previously found the below instructions (option 1) but my new payroll system doesnt appear to have an option to add the employees payroll ID so wasnt sure if it would all work correctly...
Thanks for coming back, Showtime.
Since the new payroll system doesn't have an option to add the employee's payroll ID. It would be best to contact their support to further assist you with this one. You'll want also to try other options recommended by Intuit Zac when changing payroll systems during the financial year.
In QuickBooks Onlne, if the company uses QuickBooks Payroll powered by KeyPay to lodge pay events to the ATO under Single Touch Payroll (STP), you will have to lodge a Finalisation Event to send the final year-to-date figures to the ATO. To start this process. juyts follot the steps below:
If employees have been paid on multiple pay schedules throughout the financial year, just complete the finalisation event for the pay schedule the employee is assigned to. Before you lodge the Finalisation Event:
Then, lodge the Finalisation Event by clicking on Lodge with ATO. If you need further assistance about this one, please contact our Payroll Support Team. They'll pull up your account in a secure environment and help you with this one. Feel free to visit our Payroll page for more insights about managing your payroll in QBO.
I'd like to know how you get on after trying the steps or after contacting our support, as I want to ensure this is resolved for you. Just reply to this post and I'll get back to you. Take care always.