Below are the steps to finalise the 2016-2017 financial year and commence the 2017-2018 financial year.

Step 1:

a)      Print this End-Of-Year Instructions (this step is optional)

b)      Make sure ALL employees have their addresses details entered into Eclipse Payroll and are current.

c)       Make sure ALL employees have their date of birth entered using Employee Maintenance Screen.

d)      Make sure to enter Year-To-Date Fringe Benefits Tax for all employees if applicable.

e)       Make sure company details have been set up using Company Maintenance screen.
*Note: If you plan to hire any employee who is under Working Holiday visa, make sure to register with ATO so backpacker tax rate can be applied for them then update information in Company Maintenance screen.
Also, if your company is exempt from FBT, please update this information in Company Maintenance screen to produce correct details when submit to ATO.

Step 2: Print End-Of-Year Reports (this step is optional but it is recommended)

a)       Employee YTD Summary Report

b)      Employee YTD Allowance Report

c)       Employee Leave Summary Report

Step 3: Reconcile everything (this step is optional but it is recommended)

  • Payroll reports to General Ledger
  • Tax on Payment Summaries to PAYG Tax paid to ATO
  • Gross Income
  • PAYG
  • Superannuation
  • Third Party Deductions
  • Payroll Tax

Step 4: Print Payment Summary Reports (this step is mandatory)

a)       PAYG Payment Summary – Individual Non-Business

b)      PAYG Payment Summary – Employment Termination Payment

c)       PAYG Payment Summary – Summary Statement

Step 5: Finalise End-Of-Year (this step is mandatory)

Click Commit to close the 2016-2017 financial year and start the 2017-2018 financial year.

Once you have completed the above steps, you can start making payments for the 2017-2018 financial year. If you need to make changes to the 2016-2017 financial year after you have committed it, you will need completely roll back any processed pay runs and repeat Step 5 then select the Rollback button in that screen.