cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Want an expert to help you set up your QuickBooks Online? Find out how: Click here

Reply to message

View discussion in a popup

Replying to:
IntuitAika
Intuit

Reply to message

Hi ehsanabbasi,

 

You can create and lodge a reset earnings event if you would like to zero out the YTD values of an employee. You can follow these steps for your reference: 

 

1. Select Employees from the left menu.
2. Select the Reports tab, then select Single Touch Payroll in the ATO Reporting section.
3. Select the arrow dropdown icon next to Create Update Event, then select Create Earnings Reset Event.
Note: If the Create Earnings Reset Event option is greyed out, it means you have not lodged any successful events for that financial year. Therefore, you cannot create an earnings reset event as there is no information to reset.
4. Read the information box that explains the purpose of an earnings reset event, then select Continue.
5. Select the Financial Year, employing entity and, if applicable, the specific employees you wish to create a reset event for, then select Create.
6. The Earnings Reset Event will appear, with all earnings set to $0. This is what will be reported to the ATO once lodged.
7. Select Lodge with ATO.

 

Once done, you can create and lodge an update event where you also tick the box "Mark as final" for each employee (this will notify the ATO that there will be no further payments for these employees from the old BMS ID)

 

For more information, you can check on this article: Transition options available with STP reporting.

 

Feel free to leave a comment below if you have any other questions.