The new process of Single Touch Payroll means that every time a pay event occurs in foundU, the information is sent to the ATO. Hence, at the end of the financial year, a PAYG summary does not need to be produced as they already have the information. Employees will be able to access their summaries from their myGov accounts.
Single Touch Payroll 2019:
- Employers who report to the Australian Tax Office (ATO) using Single Touch Payroll (STP) will not have to give employees a payment summary (PAYG summary).
- For more information check out the https://www.ato.gov.au/Business/Single-Touch-Payroll/ or view the ATO's fact sheet on how the payment summary is changing.
- Ensure to check out our Single Touch Payroll (STP) page to ensure that you have submitted your data to the ATO.
- Once you've processed your final pay for the financial year, with Single Touch Payroll, year to date (YTD) values will be sent to the ATO.
You are still able to generate PAYG summaries via foundU:
- This may be more relevant for businesses that are not using Single Touch Payroll (STP) i.e. employers who do not report to the ATO using Single Touch Payroll (STP).
1. In the quick menu, navigate to Payroll > PAYG Summary.
2. Click Generate PAYG Summaries (If this button is not active, it is not ready as yet - we will update this page when available).
3. This will display all summaries.
4. Here you can View individual payment summaries to review. If you need to make any adjustments, you can revisit past payslips and edit them to make required changes. If any changes are made, be sure to Regenerate afterwards to update.
5. To send PAYG Summaries to employees, select the checkbox at the top of the list to send to all, or tick specific employees. Click Email Selected PAYGs. This will email the PAYG summary as an attached document.