A new Update Event button has been added to the Single Touch Payroll screen.
Selecting ‘Update’ provides 2 new Options:-
Update Employee Values
This option allows you to do an ‘out of period’ update for the employee values and details. It is used for example to update an Employees TFN, or address. Or you have made changes to the position of allowances where you don’t want to wait until the next payroll.
The Employer values on an update will be ZERO. Only the Employee details & values are transmitted.
The ATO prefers you wait until the next Pay cycle if possible, rather than use the Update Event.
Zero Employee Values
This option will almost never be used. It zero’s all Employee year to date values, essentially deleting their Pays for the year. About the only scenario it will be used for is changing of the Employer’s ABN where you zero the old (incorrect) ABN, change the ABN or CAC in the payroll system, and then do an update event to bring the YTD figures across to the new ABN.
In this case both the Employer values and the Employee YTD values will be zero
You can expect a phone call from the ATO if you ever use this option, so only use it if instructed by either your accountant or the ATO.