EOFY Reconciliation

The following is a suggested process to follow when reconciling payroll in FastTrack360 at the end of a financial year and at regular intervals during a financial year.

Note that the following is a general recommended process only; your reconciliation process might vary based on a range of factors such as the standard processes of your business and its financial reporting requirements.

Step	Description
	Run the STP EOFY pre-submission report for each pay company and check the total gross and total PAYGW. The STP EOFY pre-submission report can be run at any time during a financial year to report on year-to-date figures and can therefore be used for reconciliation purposes at regular times throughout a financial year. However, do not submit the STP EOFY report to the ATO until the corresponding financial year has concluded or until after the last expected payments for that financial year have been made.
2.	Run the Detailed Grouped Pay Batch Report (AU) report, which is located under Reports > FT Standard Reports > Payroll. TIP: Filter the report by Tax Type = PAYG to return only those payees who are included on the STP EOFY pre-submission report/data extract.
3.	Compare the value in the Taxable Wage column on the Detailed Grouped Pay Batch Report (AU) report against the following on the STP pre-submission report or data extract: STP pre-submission report Sum the values in the following columns: YTD Gross YTD Overtime YTD Paid Leave YTD Bon/Commi YTD Allowances Lump Sum A, B, E & W ETP Taxable From the sum of the above amounts, subtract the value in the YTD Sal Sacrifice column. Pre-submission data extract To get the YTD gross from this report sum the values in the following columns: YTD Gross YTD Overtime YTD Paid Parental Leave YTD Paid Workers' Comp Leave YTD Paid Ancillary Leave YTD Paid Other Leave YTD Cashed Out Leave In Service YTD Cashed Out Leave On Termination YTD Bon/Commi YTD Allowance - Car YTD Allowance - Transport YTD Allowance - Laundry YTD Allowance - Meals YTD Allowance - Travel YTD Allowance - Tools YTD Allowance - Tasks YTD Allowance - Qualifications./Certs YTD Allowance - Other Lump Sum A, B, E & W ETP Taxable From the sum of the above amounts, subtract the value in the YTD Sal Sacrifice Super and YTD Sal Sacrifice Other columns.
4.	Compare the value in the Taxable column on the Detailed Grouped Pay Batch Report (AU) report against the sum of the following on the STP pre-submission report/data extract: YTD Tax Tax on ETP

For more information on other payroll reports that you may find useful in performing EOFY reconciliation, see Payroll Reports - Overview.