STP Finalisation Post Conversion
End of year finalisation is typically required to be completed prior to 14 July each year. For more information please refer to the Australia Taxation Office.
To identify the best process for your business, please review the scenarios below and choose the option that most closely aligns with your situation.
NOTE: These recommendations come directly from the Xero support team and are designed to provide the most relevant information regarding STP reporting and finalisation. Please note that while all care is taken in providing this guidance, the links and information may be updated from time to time.
Xero STP Finalisation caters for the following scenarios:
- Please see here if STP has NOT been used in the prior accounting package and you have not submitted half-year PSAR.
- Please see here if STP used STP in the prior accounting package and you have sent an update to the ATO
- Please see here if STP has NOT been used in the prior accounting package and you HAVE submitted a half-year PSAR.
- Please see here if STP has been used HOWEVER you have reported NIL amounts
- Please see here if STP was not used in the prior accounting package and you WILL NOT use Xero for year-end
Please note if there has been no pay run in the financial year STP finalisation will not be possible. To rectify this you can run a $0 payrun.
Once STP has been finalised please check that the figures supplied to the Australia Taxation Office are correct for all employees, pay attention to those with Employment Termination Payments.
Whilst we hope that this information helps, for any further assistance with STP reporting/finalisation in Xero please contact the Xero Support team directly. To do this visit support.xero.com. You will need to login into Xero and send a support request from there.
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