Hi MoneyMatters1
I understand your part about any indication in the payroll settings if a client is on STP Phase 2 or not. We encourage customers to review and assess based on their business and clients businesses needs. The biggest change about STP Phase 2 is the additional reporting requirements of employee and earnings data. The essential changes are as follows:
- Update Pay Categories
- Update Leave Categories
- Update Deduction Categories
- Review Employee Tax File Declaration Information
Once all the above has been updated accordingly in the payroll settings and before lodging your first pay event using Phase 2 reporting will help notifying ATO to validate the data that they will be transitioned over to STP Phase 2.
With regard to the payment classification, Default classification is set if an earnings or category do not require a specific classification. Also, I'd recommend checking this article to learn more about the List of payment classifications and what the mean.
As for the recording a termination of an employee, at the moment what will show is the termination date and the termination reason. To view the termination reason for each employee, you can check it under the Employee's Details or run a Employee details report or Employee Audit Report in the Employees tab > Reports.
You can check this link to learn more about Single Touch Payroll (STP) Phase 2 Hub.
Feel free to message us back if you need any help with QuickBooks Online. Have a great day!
