It’s EOFY which means as an employer, you have to provide a Pay As You Go Summary Statement to the ATO by 14th August.

Xero makes it easy to run your PAYG summary statement, we’ve included some easy steps to help you on your way.

payg-payment-summary-statement

The following steps needs to be taken in order to produce your PAYG summary. If you’re using Xero, it makes all of these steps easy to do.

  1. Process all pay runs for the year
  2. Reconcile end of year payroll to general ledger
  3. Review employee payment summary amounts
  4. Check the payment summary details
  5. Enter reportable fringe benefit and lump sum amounts into the payment summaries
  6. Publish employee payment summaries
  7. Distribute payment summaries to employees
  8. Send the annual payment summary report to the ATO

The statement, along with all ‘ATO original’ payment summaries should be sent by 14 August to the ATO.

If you’d like further information on PAYG summaries, please contact your friendly advisor at Evolve Online Bookkeeping on this link.

Jodie Thompson

Jodie Thompson

Jodie is a qualified CPA and company director having managed her own accounting and advisory firm for over 10 years. Jodie’s experience in establishing and growing businesses is second to none and her hands on approach and technical expertise is valued by our team and our clients alike.

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