End of financial year isn’t just about reconciling your invoicing and bills, don’t forget payroll finalisation is an important step at end of financial year!
Get ahead of the game with our essential EOFY Payroll & HR Checklist. From payroll adjustments to policy reviews, ensure a smooth transition into the new financial year!
EOFY Payroll Checklist:
→ Process any outstanding payroll adjustments for 2023/2024
→ Include reportable FBT figures
→ Complete all payroll for 2023/24 and report them to the ATO via STP
→ Review any upcoming changes to payroll and superannuation
→ Reconcile YTD reporting
→ Reconcile superannuation
→ Lodge finalisation event with ATO
→ Provide a payment summary to employees (Note: This is only applicable to employers who do not report through STP)
→ Complete finalisation declaration by 14 July 2024
EOFY HR Checklist:
→ Ensure all internal policies are up to date and signed off on
→ Review upcoming changes from the Fair Work Ombudsman
→ Review increases to awards and the minimum wage for your industry and/or roles
→ Review HR policies and procedures
→ Prepare for upcoming performance reviews
→ Assess culture, feedback and employee happiness
→ Review performance management issues
This is our absolute jam, so if you feel you could benefit from support with your HR and Payroll end of financial year checklist and reconciliation, or future support coming into the new financial year, we would be more than happy to help!
Book a discovery call and let’s get you organised ensuring your HR compliance is squeaky clean coming into the next financial year!
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