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Stargaser
Level 1

How do I account account for payment of the Jobkeeper Allowance? Kev

 
7 Comments 7
Lucas - Product Champion
Content Creator

How do I account account for payment of the Jobkeeper Allowance? Kev

Hi Kev, 

 

We've created an article going over the steps in detail here - you just need to create an Income account to represent the JobKeeper payment, and then allocate the payment to that account when it shows up in your bank feed. If you have any further questions about the process that aren't answered in that article, you're welcome reply in this thread and we'll be happy to help you as best we can!

 

-Lucas

Curious5
Level 2

How do I account account for payment of the Jobkeeper Allowance? Kev

Hi Lucas, if we go a step back to when we pay the JobKeeper prior to receiving it. So in banking when it comes through as a payment we made, do we "transfer" it into "payroll clearing"? 

Thanks.

Lucas - Product Champion
Content Creator

How do I account account for payment of the Jobkeeper Allowance? Kev

Hi Curious5, 

 

That's right - when the payment that you make for your employees, including the JobKeeper amount that was recorded in the pay run, comes through in the Banking screen you can simply record it as a Transfer to Payroll Clearing account - that way, once everything is up to date, the amounts should balance out. 

 

Feel free to reply if you have any other questions!

 

-Lucas

Curious5
Level 2

How do I account account for payment of the Jobkeeper Allowance? Kev

Awesome! Thanks Lucas! 

 

And when I receive the JobKeeper from the ATO, I just go through the process posted in the "How to record JobKeeper payments once received" article? 

Lucas - Product Champion
Content Creator

How do I account account for payment of the Jobkeeper Allowance? Kev

Hi Curious5,

 

Yes, that's right! If you do have any questions about it while you're going through the process, don't hesitate to reach out and we're happy to assist however we can. 

 

-Lucas

Curious5
Level 2

How do I account account for payment of the Jobkeeper Allowance? Kev

Sorry! One more question please, I had set up Jobkeeper start and jobkeeper topup in the pay categories. But I've noticed that QBO has now created system generated ones instead. Can I delete the ones I created as it keeps showing up in the pay runs now. 

Lucas - Product Champion
Content Creator

How do I account account for payment of the Jobkeeper Allowance? Kev

Hi Curious5, 

 

Yes, you're able to delete the custom pay categories that you've created if you have switched the pay category that was selected in the pay run to the system category - otherwise, if a pay run contains a pay category, that category cannot be deleted. So long as it is set up with the correct settings, though, this shouldn't be a problem and will behave the same way as far as the ATO is concerned. If the pay category that you created is coming up automatically when those employees are selected, they might have it enabled in the Pay Rates section of their employee page - if you open up the employee and check their Pay Rates, make sure the category that you created doesn't have "Show in pay run" ticked, and then it should stop being added automatically in future pay runs. 

 

Let me know if you have any other questions!

 

-Lucas