Finalising Pay Prior to Commencing STP Reporting

If you are upgrading to an STP complaint version of FastTrack360 and you will commence STP reporting during a financial year, you may need to finalise payees' earnings in the system you are upgrading from to ensure that you meet your ATO reporting obligations. This is necessary if payees' YTD amounts will not be carried over to the STP complaint version of FastTrack360 in which you will commence STP reporting and is necessary to ensure that you meet your ATO reporting obligations for that entire financial year. This should be done once you have closed off the final pay runs that will be processed in the system from which you will be upgrading.

The table below describes the course of action you must take depending on the system you are upgrading from.

Upgrading from…	Actions Required
FastTrack v9 or v10	Finalise payees' earnings in the system you are upgrading from by running the normal EOFY process. That is: generate and issue payment summaries to payees generate Payment Summary Annual Report (PSAR) file & submit it to the ATO.
FastTrack v11 (not STP complaint)	No action necessary.
Non-FastTrack system (not STP compliant)	Finalise payees' earnings in the system you are upgrading from by running the normal EOFY process. That is: generate and issue payment summaries to payees generate Payment Summary Annual Report (PSAR) file & submit it to the ATO.
Non-FastTrack system (STP complaint)	Finalise payees' earnings in the system you are migrating from through STP.

It is possible to finalise payees' earnings in the system that you are migrating from at any stage after you have run the last pay runs up until the end of the financial year during which you commence STP reporting. However, it is recommended that you finalise as soon as possible in the system from which you are upgrading because that will ensure that payees will be able to see their
up-to-date YTD amounts in MyGov.