5. Check Opening Balances

If you have migrated to this payroll platform from another platform during the financial year, it is important you have correctly set up the opening balances. If you created your business in the previous financial year but did not start processing pay runs until this financial year, it may be necessary to review the Initial Financial Year setting. You will find this in the Opening Balances page in the Payroll Settings module where you can make sure the configuration of the correct financial year.

If there are any opening balances for deductions that should be reported as Reportable Employer Super Contributions (RESC) on the Income Statement, be sure to select the Include on payment summary as RESC tick box alongside the deduction category in the employee's Opening Balances screen. If you are using the platform Salary Sacrifice Super deduction category, we will select the tick box by default