PAYMATE HELP

4.02   End of month

After the last pay for the month has been entered and updated you will need to roll the end of month to clear out the current monthly files and roll them into a yearly history file. 

The timing of this end of month roll over is very important to keep the payroll history reports and the general ledger reports consistent.  Whatever the pay week ending day is, the end of month should be done on the last one of the month, e.g. Friday, then do it as of the last Friday of the month.

• Firstly, print Monthly Dissection report and Monthly Summary report

The monthly dissection and summary reports must be printed after updating the pays to general ledger.  This report lists employee code, employee name, rate of pay, deductions, allowances, gross, tax and net pays.  This report is subtotalled for employees and totalled for company figures. 

• Print a Yearly Dissection report and a Yearly Summary report

The yearly dissection and summary reports must be printed after updating the pays to general ledger.  This report lists employee code, employee name, rate of pay, deductions, allowances, gross, tax and net pays.  This report is subtotalled for employees and totalled for company figures and is an aggregate of the year to date figures.

• Print the Superannuation Guarantee report for the month

This report has one page per Superannuation Fund, can be run for a single month or multiple months if reporting quarterly and lists the employee code and name, super fund name and account details, number of weeks included and finish date if the employee has ceased employment, and differentiates between SGA, extra super (personal contributions) and salary sacrifice, making reconciling and payment of superannuation simple.

• Print the Show Entitlements report

The entitlements report will only show what entitlements have accrued as at the time the report is run, therefore it is recommended as part of the payroll process, a report is printed off after each pay run has been updated to the general ledger and kept on file.  There is an option to exclude employees with zero balance entitlements and to show entitlements dollar value on report.

• Roll over End of Month.

The end of month option will close off the current month, roll the monthly accumulated pays into the yearly history file and increase the month number in the company records by one.  Each company must be done individually.   The end of month option must only be done at the close off time for the month and only done once.

• As a final check that the end of month has been done correctly, preview a monthly summary report again.  If there is no report to display, then the end of month has been completed. 

• Another check that can be done is to go into the Company records in the Utilities menu to check that, on the ‘Accounts’ tab, the payroll month has been advanced by 1.

  4.03 Payroll EOY Procedures Checklist