Stay_Calm_this_Payroll_Year_End.jpg


Click Here for Access to Reckon 2014 Tax Table Update


NEW - Click Here for a link to the 2014 ATO Magnetic Media Form


NEW - Click Here for a link to the ATO Taxable Payment Annual Report Form (applicable to the Building & Construction industry)


Please Print, Read and Apply The Following Procedures

(before installing the Reckon Accounts 2014 Tax Table Update)


The following information is an extract of the procedures advised by Reckon in relation to the 2014 Reckon Accounts Tax Table Update - You will need to be a current Reckon Customer who has Reckon Accounts 2014 installed and licenced and you will need to be an eligible Reckon Customer who is entitled to access to the update which is accessed via use of  your valid Reckon ID and PIN?


The following information is also contained at the web address 


http://info.reckon.com.au/reckon-accounts-2014-tax-update-release


The Reckon Accounts 2014 Tax Update for desktop users is now available. Reckon Accounts 2014 Hosted R3 will be available to all users from Thursday 26 June 2014.

The releases contain compliance updates for the 2014/15 financial year, including:

  • Tax Tables - HELP, SFSS and PAYG tables have been updated
  • Superannuation - the statutory Superannuation Guarantee rate has been increased to 9.5%
  • ETP rates have changed to include the Medicare Levy increase
  • State Payroll Taxes are updated as of 31 May 2014

Further details about these updates and other compliance changes you should be aware of are included in the upgrade guides:

Upgrade Guide for Reckon Accounts Hosted Premium 2014 Tax Update
Upgrade Guide for Reckon Accounts Hosted Standard 2014 Tax Update
Reckon Accounts 2014 Installation and Upgrade Guide (desktop releases)

Please also follow the advice in these guides when upgrading.

Please Note: This years Tax Table Update is referred to as Reckon Accounts Business Range 2014 R3.  

 

When to upgrade

Where the pay date is 30 June 2014 or earlier, all employee pays need to be processed using Reckon Accounts 2014 R1 or Reckon Accounts 2013 R2 - do not install the 2014 Tax Update at clients until these are complete.

All employee pays dated 1 July 2014 or later must be processed using Reckon Accounts 2014 R3 (ie Reckon Accounts 2014 R1 with the Tax Update installed).

INB Payment Summaries, ETP and EmpDupe files. If you have processed any taxable ETPs in the 2013/2014 financial year, your payment summaries, ETPs and EMPDUPES should be prepared and generated using Reckon Accounts 2014 before the Tax Update is installed (i.e. Reckon Accounts 2014 R1). This is recommended because of the changes to the ETP rates for the 2014/2015 financial year.

RESC Calculations for the 2013/14 financial year must be finalised prior to upgrading to Reckon Accounts 2014 R3, as once upgraded any revised calculations will use the new default 9.5% Superannuation Guarantee rate.

 

How to access the update and when will it be available

Reckon Accounts 2014 Hosted R3

This release will be available to all users from approximately 8:00am AEST (Thursday, 26 June). When logging in after that time, you, and all users on your Hosted account, will see a second icon for the R3 release.

Reckon Accounts 2014 Tax Table Update (for desktop clients)

Available from Reckon website (from 26 June 2014) or simply click on the folowing box to automatically start the download now.

 

Click Here for Access to Reckon 2014 Tax Table Update


Other Important Points Regarding Your 2014 Payroll End of Year


ATO Letter Advising No Longer Accepting EMPDUPE Files on CD or USB

You may have received a letter from the ATO advising that they will no longer be accepting the Annual Employer Payment Summary Report (EMPDUPE File) via CD or USB. After some detailed discussions with the ATO we can confirm that YOU CAN still send your EMPDUPE file via CD or USB together with the Magnetic Media Form - this will still be the case for the 2014 and 2015 years. However if you have an AUSkey then you may find it more efficient to lodge electronically - more details regarding the AUSkey and lodging online can be found here.


Reckon Accounts 2014 - Tax Table Update

Now Released - the Reckon Accounts Tax Table Update can only be installed after you have already loaded and registered your 2014 Reckon Accounts software (for Reckon Accounts Hosted users - Reckon will be providing a separate icon, available at the time of login to the service). it is important not to load the Tax Table update until you have fully completed your last pay run for the 2013/14 financial year (please note this usually based on the day that you normally pay the employees - not the pay week ending - so if yuu pay employees on the 1st of July for the week ending the 30th of June then this pay would be considered as a part of the next financial year). 


QA - Reckon Account Payroll End of Year Manual & Cheklist Still Available

Your essential guide to the End of Year Payroll reconciliation process is still available (including checklists) - More details here