This video demonstrates how to do a Single Touch Payroll lodgement.
In this video I demonstrate how to prepare and lodge a Single Touch Payroll batch. This entire video takes 6:30 minutes including all the explanations and even the 60 second lodgement time (the lodge takes 60 seconds as that is the minimum polling time set by the ATO).
Without all those explanations you can see how you'd easily do this payslip and lodgement in about 2 minutes. That's not bad for something that most business owners would lament as a complex and time consuming task.
Single Touch Payroll started for employers with 20 or more employees from 1 July 2018. For other employers it starts on 1 July 2019. You can start early and since Single Touch Payroll is the new way of doing things and this is a new software we are going straight to Single Touch Payroll.
The advantage of starting early with Single Touch Payroll is that you will not have to lodge PAYG Payment Summaries for the 2019 financial year. In this software we do not intend to build a PAYG Payment Summary lodgement, why would we when we have Single Touch Payroll. We therefore recommend that users start lodging using Single Touch Payroll from now.
One thing to note about Single Touch Payroll is that you need to report to the ATO on pay day. Businesses should really be processing their payroll on pay day anyway as you are legally required to give employees a pay slip.
This is explained more fully in the other tutorial on payroll. As the video shows most of the information is already saved on the employee's set up information and therefor automatically populates on the pay slip.
Also worth noting is that we use a batch as that is the thing that gets lodged to the ATO. We don't want to lodge individual pay slips separately of course.
After adding all the pay slips, go back to the batch and click on the STP lodge button. All the information is generated based on the pay slips entered. All you have to do is review it, fill in the declaration and lodge it.
It's lodged in the standard way by selecting your AUS key, agreeing to the declaration and clicking the Lodge button.
Once you have lodged the batch the status of the batch is updated to Lodge complete. The pay slips are then locked to prevent accidental changes.