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QuickCuppa: A deep dive into Single Touch Payroll (STP)

In this episode of QuickCuppa, Joey and Tom explore some more unusual or once-off questions about STP.

 

Questions covered include:

What do businesses do with employees terminated during a pay run?

What do businesses do about employees who have been terminated throughout the year?

How will previous employees receive their payment summary at tax time? 

What do you do if the final payroll for the current financial year overlaps into the new financial year?

Does STP send gross or net earnings to the ATO?

How should a business lodge STP if they have casual workers and complete payruns occasionally? 

How do employers with closely held entities lodge STP?

 

Sit back, relax and join us for this QuickCuppa.

Solved
Best answer June 13, 2019

Best Answers
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QuickCuppa: A deep dive into Single Touch Payroll (STP)

This video is the fourth in our QuickCuppa series on Single Touch Payroll.

 

Take a look at the other videos: 

QuickCuppa: Discussing the basics of STP 

QuickCuppa: Setting up for STP

QuickCuppa: STP for Advisors

 

 

View solution in original post

3 Comments
Highlighted
Moderator

QuickCuppa: A deep dive into Single Touch Payroll (STP)

This video is the fourth in our QuickCuppa series on Single Touch Payroll.

 

Take a look at the other videos: 

QuickCuppa: Discussing the basics of STP 

QuickCuppa: Setting up for STP

QuickCuppa: STP for Advisors

 

 

View solution in original post

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Level 1

QuickCuppa: A deep dive into Single Touch Payroll (STP)

I do find Quickbooks payroll is giving a lot of information including employees' pay rate, Awards under FairWork, job position, all types of leaves, penalty pay rate...etc. and all those need to be set up correctly. However, as a Tax Agent/Advisor, it is just too much legal responsibility and time consuming when we are preparing Quickbooks lodgement of STP including checking the Awards and pay rates etc. But all ATO needs for STP is only employee's gross wages, PAYG and super, that's all. So it would be good if Quickbooks has simple way of STP lodgement as an option for your customers/advisors. Currently most small business owners with 1-4 employees after tried Quickbooks payroll, they would not proceed and ask for other options in the market that allow them lodge through Mobile App (Reckon for example), they can lodge STP more simple and fasten. Simple STP also lighten the legal levy with their Advisors/accountants ( landmark decision case alarm all accountants few years ago: The Full Federal Court (FFC) in EZY Accounting 123 Pty Ltd v Fair Work Ombudsman [2018] FCAFC 134 has upheld a decision to fine an accounting firm that provided payroll assistance to its client, resulting in the underpayment of staff). So if Quickbooks can develop a simple STP as an option or Mobile App that would take more shares of the cloud accounting market and better user experience for some businesses.

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Content Creator

QuickCuppa: A deep dive into Single Touch Payroll (STP)

Hi Toniana, 

 

Thank you for your feedback on this topic, it is very much appreciated. We understand that every business has different needs, and the current process for submitting STP may not align with the way that some business owners operate. We'll pass this feedback on to our product team to consider for the future of our STP lodgement processes. 

 

If you have any other insight, you're welcome to post it here as well!

 

-Lucas