To ensure that the entire process is as streamlined as possible, Payroll has been updated to accommodate all of the most recent changes. Required fields are marked *. To make applying for finance simpler ahead of the JobKeeper payments becoming available, ANZ, CBA, NAB and Westpac have recently launched dedicated support hotlines. One chief eligibility criteria is that businesses must have paid workers at least the minimum $1,500 fortnightly wage subsidy payments throughout April (the Commissioner has extended the time to enrol for the initial JobKeeper periods from 30 April 2020 until 31 May 2020). If the employee normally receives. They also need to be at least 16 years of age and an Australian resident (this includes, Australian residents for the purpose of the Income Tax Assessment Act 1936, and New Zealanders on a special category subclass 444 visa). If your business is STP compliant, then it will pre-populate employees that may be eligible for JobKeeper within your accounting software and send that information straight to the ATO (you just need to go through and confirm). Enrol your business with the JobKeeper payment program via your Business Portal via myGovID. If you are yet to activate STP, you can do so in. bn need to have experienced at least a 50 percent reduction. I have been paid, and all is well. Xero blog - "JobKeeper now live in Xero Payroll" Xero articles - processing COVID-19 related transactions (Note: in Xero, the Job Keeper nomination is only processed when the employer "files" to the ATO. You’ll also need to share payroll details of eligible employees, information that should already be with the ATO via STP. If you’re happy with the summary shown, select the checkbox to the left of the employee’s name and then click Finalisation and submit to the ATO. The ATO will then make payment two to three business days later – this process is repeated each month. Review and confirm the employees who might be eligible for JobKeeper payments. Based on March figures we were not down 30% however April figure we are definitely down 30%. Directed at those significantly affected by the coronavirus pandemic, JobKeeper has been designed to help keep more Australians in work. You do. © 2021 Xero Limited. Save my name and email in this browser for the next time I post a comment. As we navigate our way through this challenging economic environment, the government is providing critical financial support for eligible small businesses and their employees through the, To be eligible for JobKeeper, you and your employees must meet a range of criteria (this also includes those who are self-employed or sole traders). To find out more, join us for a series of webinars from September 23, where the Xero team will go through the JobKeeper 2.0 scheme, unpack how to process JobKeeper payments in Xero Payroll and provide plain language examples to support you. Learn how to process an unscheduled pay run, Many small businesses are needing help with the cash flow gaps as they pay staff JobKeeper payments before 8 May (at the latest). Hi Lynne – thanks for your comment and sorry for the delay in getting back to you. Lenders have also extended a range of support measures including temporary overdrafts through to term loans. Every business and every person in Australia has been affected in some way by COVID-19. Like Xero the updated instructions for setting up payroll for Jobkeeper needs you to manually create a new payroll category. NB: It is best to process the JobKeeper Top-up pay for each pay calendar for each employee as the top-up amounts may vary from week-to-week and the tax will be calculated correctly in Xero. This means that employees of businesses that shut down due to restrictions – such as cafes, restaurants and theatres – may continue to be paid, and will be expected to contribute appropriately. Get our best stories straight to your Inbox, This article was updated on 29 April 2020. The next step is to import the pay run into Employment Hero, this import process happens automatically at set times, when the two platforms meet the right conditions.If you are processing the employee termination in one go though, it is best to import the pay run completed in step 1 manually. Once you’ve identified who is eligible simply click “Start JobKeeper” next to the employee’s name in Xero and choose the fortnight you want to start the $1500 payments. Learn more about enrolment here. Income? That’s why we’ve enhanced our Xero Payroll feature to make processing JobKeeper payments as simple as possible – all so you can spend less time hunting for information, and more time supporting your business through this challenging period. Sarah will step you through the new JobKeeper features and show you how Xero Payroll can fly through paying eligible employee’s salary or wages to comply for the $1,500 per fortnight COVID-19 response package. You can learn more about the specifics here. How do I process the JobKeeper reimbursements in Xero? If you do have further questions about what this means for your business, we recommend reaching out to the ATO for further assistance. You must do this by the end of April to claim JobKeeper payments for April. Click here for steps on Processing JobKeeper Top-up pays missed in April. Read more on the latest financial relief initiatives. If an employer decides to put one of their eligible employees on JobKeeper, they have to put all of them on. Yes, employers will need to log into the portal every month to complete their monthly declaration. The features are designed to streamline the process of applying for and processing government relief. I am a sole trader no staff. Businesses without employees are entitled to one payment, or if the business has employees, one payment in addition to eligible employees, If you’re still feeling a bit confused as to whether your particular business structure fits the ATO requirements, check this handy page on their, The majority of businesses in Australia – those with a turnover of less than $1bn – will need to prove that they’ve experienced a loss of 30 percent or more of their revenue in relation to a comparable period a year ago. Basically, STP is set to drastically streamline the entire process. You’ll need to have had an ABN since the 12 March and be completely up to date with your tax lodgements. Hosted by Heath Nankivell, Murray NankivellPresented by Sarah Boyce, XeroHow to process JobKeeper payroll in XeroXero Payroll is JobKeeper ready and new features have recently been added to make it easier for you to enrol and process payments. How should I report the Jobkeeper income? Basically, it’s one in, all in. Thanks! How to process JobKeeper in Xero 1. Read more on the latest financial relief initiatives. Can you please raise a case with our Support Team so they can give you a hand? I’m wondering how I should enter the job keeper payments in XERO? You can call the ATO and amend any details already submitted. Here’s a brief overview of the steps to take, from getting started to processing JobKeeper payments to your employees. Jobkeeper Extension: Set Up in MYOB & Xero Given the majority of small businesses utilise Xero or MYOB we thought it might be helpful to circulate the instructions, from both software providers, for setting up payroll correctly to ensure that your Jobkeeper payments to your employees are processed and reported correctly in the extension period. The steps are: Review the JobKeeper Pay Item in Xero payroll; Select the eligible employees in Xero; Calculate the JobKeeper Top-up payments for applicable employees; Update the Pay Templates for employees who are entitled to JobKeeper Top-up payments The short answer is “no”. What category do I assign the jobkeeper payment to on Xero. As long as your business can prove the requisite loss in revenue and your employees are considered eligible then staff numbers don’t come into it. In turn, businesses with a turnover of over $1. Both of these tasks can easily be taken care of through the help of cloud-based accounting software – making the entire process more efficient, accurate and straight forward. Staying across important JobKeeper updates in Xero Keeping up to date with the latest product updates and information available around JobKeeper payments is made easier with our one-page summary.Here you’ll find everything you need for Xero and JobKeeper, so make sure to give it a look. If you’re a Xero user and want to check your eligibility status, we’ve built an intuitive. Now my STP is being rejected as I cant revert that payrun to draft as it has auto superannuation?? How to process JobKeeper payments in your Payroll Software Single Touch Payroll (STP) will be crucial for businesses wanting to quickly and easily access the Government’s JobKeeper wage subsidy scheme, which aims to provide payments of $1,500 per fortnight to eligible employees. Enrol your employees in Xero for JobKeeper → Complete these steps in Xero - Follow the visit our Payroll support page link in the Pay Runs screen of your Xero file; At step 3 click Enrol employees; Confirm the information here to what you recorded in your eligible employees list 2. If you’re self-employed, you’re also eligible. Set up your employees. Hi Kendal, I advise getting in touch with your accountant or financial advisor who will be the best person to provide you with clear guidance. How To Process The JobKeeper Payment In Xero Payroll - YouTube You’ll need to make these pay runs by 8 May to get the reimbursement. If you’ve set up STP in Xero, we provide a. who are likely to be eligible for JobKeeper payment. They also need to be at least 16 years of age and an Australian resident (this includes Australian residents for the purpose of the Income Tax Assessment Act 1936 and New Zealanders on a special category subclass 444 visa). February XSBI data sees improvements in jobs and revenue, Xero Community Appeal donations finalised, Xero to acquire Tickstar to drive adoption of e-invoicing globally, Xero and Capital One partner to help rewire the small business economy, Xero Wins Linkedin’s ‘Bring Your Employer Brand to Life’, Trailer Happiness: Serving party goers a taste of Carnival spirit in Notting Hill. If you’ve set up STP in Xero, we provide a list of your employees who are likely to be eligible for JobKeeper payment. Lenders have also extended a range of support measures including temporary overdrafts through to term loans. Xero’s business continuity hub has pulled together the latest information, tools and resources on everything from government aid to managing cash flow to help guide you through. Hi Emily, you only have to use the top up pay item if you are needing to top up employees being paid less than $1500 per fortnight. From 4 May, you’ll be asked to log in to the ATO Business Portal and confirm your details (this means re-confirming the eligibility of your business and employees and signing a declaration online). Find out why over 1,000,000+ subscribers have fallen in love with Xero. But with so much information on offer, it can be difficult to know where to begin. Now it is time to set up your payroll settings & process pays in your Xero accounting system. As the COVID-19 situation continues to develop, you can find the information you need on government support at the ATO’s dedicated page. You can use unscheduled pay runs to pay eligible employees the $1500 per fortnight JobKeeper payments you may have missed in April. Hi Rachella, thanks for your question. Businesses without employees are entitled to one payment, or if the business has employees, one payment in addition to eligible employees. You must then pass this amount directly to the employee. than $1,500 a fortnight, you’ll need to continue paying their normal wages. For many businesses, the ATO will use the information captured by STP to help determine their eligibility for JobKeeper payments as well as for any future stimulus. Here's some useful info for you around how to set JobKeeper stop dates, Ajay! I’m one half of a partnership, I don’t use STP. Learn how to process an unscheduled pay run. than $1,500 a fortnight in wages, they effectively get a raise: you’ll pay them the full $1,500 you receive, minus PAYG withholding. In turn, businesses with a turnover of over $1bn need to have experienced at least a 50 percent reduction. Assign the JobKeeper pay item to an employee 2. If you don’t already have one, you can find a Xero Certified Advisor on our website – http://www.xero.com/advisors. You can find more information on how to process JobKeeper payments in this Xero Central article. Open to eligible employers, it is designed to allow business owners to continue to pay their staff so that they can return to normal as soon as possible when the crisis is over. Alternatively, if your business isn’t registered, you’ll have to take the time to manually enter the details of each employee through the ATO’s online services or business portal. Xero Payroll Webinar After hosting a Lunch & Learn Workshop last year on Xero Tips & Tricks, we received an overwhelming amount of questions specific to Xero Payroll. You will need to create a new income account for receiving JobKeeper payments: Click on Accounting at the top of your page and from the drop down list choose “Chart of Accounts” from the advanced section … Process the JobKeeper Top-up pays missed in April, in Xero. feature to make processing JobKeeper payments as simple as possible – all so you can spend less time hunting for information, and more time supporting your business through this challenging period. The ATO will then make payment two to three business days later – this process is repeated each month. From 4 May, you’ll be asked to log in to the ATO Business Portal and confirm your details (this means re-confirming the eligibility of your business and employees and signing a declaration online). To finalise year end with STP within Xero, go to Payroll > Single Touch Payroll > Finalisation. What is Hubdoc and how to use itHubdoc syncs the data from your bills and receipts to Xero as accurately categorised transactions that can be easily matched with your bank feed so you have up-to-date financials. And do I put it in as a sale or other revenue? It’s just the start of our efforts at Xero to make accessing government help easier, so stay tuned for further updates. 2) The PayPal fee reversal. How do you reconcile/track the PAYG cash boost? 1) The full dollar amount of the refund sent to the customer. Your email address will not be published. Brandon has recorded a video on how to process JobKeeper in Xero, and minutes after he finished, Xero updated further to include a basic last month turnover calculator too! thanks! If your worker normally receives less than $1,500 a fortnight in wages, they effectively get a raise: you’ll pay them the full $1,500 you receive, minus PAYG withholding. We’re also working closely with the ATO to ensure you have a smooth experience with JobKeeper. You need to reconcile the statement line in Xero to a receive money transaction when you receive the JobKeeper payment from the ATO. Do I generate an invoice for it? This Xero Users Webinar – Processing JobKeeper Payments & Cashflow Boost video walks you through how to process the payments received from the ATO in Xero software. Many small businesses are needing help with the cash flow gaps as they pay staff JobKeeper payments before 8 May (at the latest). Add a JobKeeper payment start date next to their names based on your pay frequency. JobKeeper 2.0 will continue until 28 March 2021. To cut through the confusion, the Xero team is sharing some of the most commonly asked questions from our community – and connecting you with the answers and resources you need to help stay on top of all things JobKeeper and, During these challenging times, the Xero team is listening to our small business and accountant and bookkeeper communities as to how we can help. If you have stood any staff down after 1 March, you can choose to reinstate them and pay them the $1,500 JobKeeper subsidy. You can use unscheduled pay runs to pay eligible employees the $1500 per fortnight JobKeeper payments you may have missed in April. Hi Steve, this sounds like something that’s best to chat with your accountant or financial adviser about. Once you’re there, simply click on the employee’s name to review their year-to-date summary. The JobKeeper payment is available to sole traders who have experienced the requisite downtown in revenue. Process JobKeeper payments using Xero Payroll; File your pay runs with the ATO through STP . All rights reserved. If you’re still feeling a bit confused as to whether your particular business structure fits the ATO requirements, check this handy page on their website. Xero’s. It also touches on how to create a new account to ensure that these amounts don’t end up in your BAS statement and included as income for the Jobkeeper turnover test. The client has now received the $15,000 JobKeeper subsidy on 17 August 2020, which they can see in their bank account in Xero by clicking on the Reconcile Items blue button under the bank account name while on the Dashboard as illustrated below. The client can now reconcile the transaction to the JobKeeper account in Xero as summarised below. Cloud accounting solution Xero has announced a range of key updates to its product to make it simpler for small businesses to apply for JobKeeper and manage the ongoing reporting process. You can then process pay runs and file them with STP on or before the payment date of the pay run. You will need to get in touch with the ATO who’ll be able to provide you with some guidance. How do I add employees to jobkeeper that I didn’t apply for initially? has pulled together the latest information, tools and resources on everything from government aid to managing cash flow to help guide you through. You’ll need to have had an ABN since the 12 March and be completely up to date with your tax lodgements. I match this against a credit note created in Xero for the full dollar amount. The JobKeeper payment is available to full-time and part-time workers as at 1 March, and casuals who have been on the books for more than 12 months from the start of March. We have simplified this process so you only have to review the total count of your JobKeeper employees as the employee enrolment happens in Xero. Speak to your accountant or bookkeeper for advice on the account and tax rate you should use. JobKeeper subsidy duration. Note that you will only be paid a JobKeeper payment for employees from the eligible fortnight they were re-engaged, starting March 30. From 4 May, you’ll be asked to log in to the ATO Business Portal and confirm your details (this means re-confirming the eligibility of your business and employees and signing a declaration online). But if they are not set up, the ATO is developing alternative options for reporting this information outside of STP so that you can still claim for eligible participants who are not STP reported. If you’re self-employed, you’re also eligible. Here’s some information from the ATO to help: https://www.ato.gov.au/General/JobKeeper-Payment/In-detail/JobKeeper-guide—employers-reporting-through-STP/?anchor=Step3#Step3. Sales? When I usually process a refund from PayPal there are two transaction that I need to reconcile in Xero. Will that suffice? That’s why we’ve enhanced our. As the COVID-19 situation continues to develop, you can find the information you need on government support at the, dedicated page. In addition to a lower payment amount, you will have to assign Tiers to your JobKeeper eligible employees, based upon the average hours worked per week in a reference period, rather than paying a flat payment amount.. Alternatively, if your business isn’t registered, you’ll have to take the time to manually enter the details of each employee through the ATO’s online services or business portal. Once each employee has been assessed and tier determined, record this in the pay run (so it is then reported via STP) by accessing the employee's pay and clicking on "Actions" > "Add JobKeeper Payment" > select "Assign JobKeeper tier" from the options dropdown list > select "JOBKEEPER-TIER1" or "JOBKEEPER-TIER2" from the "Assign JobKeeper tier" dropdown list > click on "Finished". 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