Last Update 06/07/2019

PERIOD END PROCEDURES AND GST IMPLEMENTATION
(Select topic)
[1] PAYMAN
[2] CASHMAN/CASHPAC
[3] SHAREMAN
[4] ASSETMAN
[5] FRINGEPAC

For details of Current Program releases refer to the USER BULLETIN SHEET on this web site. 

Obviously, you should be on the latest release to ensure that everything works as it shoild. This is particularly true for Payman, where the ATO make regular changes to requirements. 



                                                                                                          [1] PAYMAN
YEAR END PROCEDURES
These procedures are contained in a PDF document under the Year End Menu option in Payman. It contains the instructions for balancing forward to the new year as well as submitting data to the ATO.

If you have not transitioned to STP, the instructions for printing Payment Summaries (formerly Group Certificates), producing an electronic file for the Taxation Office, are also contained.  To access these instructions, do the following: Select the Year End menu option in Payman and then select HELP on Year End Procedures.

From  the 2019 year, the ATO is moving all Employers to Single Touch Payroll (STP) and phasing out their portal for year end reporting.

When employers transition to STP, they will no longer be required to provide Payment Summaries to employees (though Payman will still let you create them). Also they will no longer submit a PSAR (EMPDUPE) file to the ATO, They will simply flag the last STP for the Tax year as being FINALISED.

Employees will be expected to use their myGov accounts to get their year end tax details. 

FBT ON PAYMENT SUMMARIES

You only need enter FBT into PAYMAN where the taxable amount is greater than $2000. Any amount less than this will not appear in the STP file (or on Payment Summaries, if still being used) [NIL will be printed]. Any amount greater than $2000 will appear as the grossed up amount.

REPORTABLE SUPER ON PAYMENT SUMMARIES
If an employee receives salary sacrifice in the form of superanuation, this needs to be reported in the STP file. This amount can be added or edited through Data Entry and viewed on the Payment Summary report under Year End. If you have not transitioned to STP, then it needs to appear on the Payment Summaries as well as the EMPDUPE file

NEW TAX RATES FOR for CURRENT YEAR

PAYMAN is updated each year with any new tax rates from the ATO. These rates come into effect when you close the last year and Payman detects that the new year start date corresponds to the new tax table.

[top]

                                                                                   [2] CASHMAN 

The PERIOD/YEAR END instructions for balancing forward to the new year are contained in On Line Help.   To access these instructions, do the following :

Start CASHMAN, select HELP/CONTENTS/SEARCH, now type in PERIOD END and click on DISPLAY.  To print these instructions – click PRINT. 

                                                                                                                        [top]

[3] SHAREMAN
Refer to the instruction in on line help: - HELP CONTENTS / OTHER FUNCTIONS /BALANCE FORWARD PORTFOLIO. Note that when you balance forward, all transactions are preserved for historical purposes. 
[top]


[4] ASSETMAN 
Change the “Year Start” and “Year End” dates appropriate to the new Financial Year, by selecting NEW YEAR on the Main Screen 
[top]


[5] FRINGEPAC
Change the “Year Start” date appropriate to the new Financial Year, by selecting UTILITIES / EDIT ENTITY DETAILS and then editing the start date. If Benchmark interest rate or FBT Tax rate has changed, edit this here also. You will need to do this for every FBT Entity.  [top]

[Return to Trimar Website]