The Financial Year Calendar

1. To view the financial year calendar, go to step 2 of the payrun.
2. Click next to Financial Year:Week No to access the calendar.
   Rather than dates, the pop-up calendar lists the weeks of the current month. This has been pre-defined for each financial year.
3. Use the arrows at the top of the window to scroll back and forwards through the months.
4. At the bottom left, select a month from the list. Note that the months range from July through to June.
5. At bottom right, the calendar will always default to the current financial year. Use the arrows to change this if required.
6. Double click the required week number to select it for the current payrun. The payrun screen will show the selected week as financial year:week number. For example: for week 1 of 2014-15, the system displays 2015:1.

The annual calendar is used to set the period start and end dates for a payrun, to set leave start and end dates and so on.

1. To view the annual calendar, go to step 2 of the payrun.
2. Click the box next to period start to access the annual calendar.
3. Select the required calendar year.
4. Select the required month. Note that the months are listed from January through to December.
5. Double click the required date to select it for the payrun.

There are three different occasions when you might create Financial year calendars:

• When performing a year end, as part of the year end wizard.
• When creating a new company, as part of the company creation wizard.
• Independently of these processes, using the financial year wizard.

1. From the navigator go to company | financial years.
   The Company Maintenance Window opens on screen.
2. Click the Add New button on the right.
   The Year End Wizard opens at step 1.
3. Set the Financial Year to the year ending date, for example when creating the 2014-2015 year, enter 2015. Use the arrows to scroll up and down, or type the value directly in the field.
4. Set the Starting Month of the financial year to July (required in Australia). Even if you are creating this calendar in the middle of the financial year, you will not usually change this value.
5. Click Next to proceed to step 2.
6. Enter the number of weeks for each month, even if you are part-way through a financial year. payroll uses these week numbers to define a month for payrun and reporting purposes. If your pay periods begin on a Wednesday, enter the number of Wednesdays in each month. You will only be able to continue once the total weeks equals 52 or 53.

The first task in a new payrun is setting the payrun dates. This labels the payrun for reports, allowing you to filter or group payruns by month, week number or payrun dates.

By default, all payrun dates default to the current financial year. If you attempt to process dates outside this period, you will receive a warning message when you try to proceed in the payrun.

One financial year will always be set as the current year. If you attempt to process a payrun outside the current year, you will receive a warning. Processing a pay into the wrong financial year will cause errors on payment summaries. To find your current financial year:

1. From the navigator select Company | Financial year.
2. On the left, highlight the required financial year. The right hand pane displays thresholds and rounding rules for the current year.
3. Look for the setting set this year as current financial year. This will be ticked but greyed out for the current year. In all other years, it will be blank.
   
4. Note the setting lock this year for payroll processing. This should be ticked for all years except the current year. This will prevent a user accidentally processing figures into the incorrect year.

Each financial year stores various thresholds and rounding rules, some of which are used in calculations throughout the system. Others are stored for your reference only. To access Thresholds and Rounding Rules: 

1. From the navigator go to Company | Financial Years.
2. Highlight the required year on the left. The right hand pane displays thresholds and rounding rules for the selected year:

Field Name	Explanation
Thresholds and Rounding Rules
Financial Year Ending	This will default to the financial year you have created at Step 5.
Set this Year as Current Financial Year	Select if the year is the financial year in which you are currently working.
Lock This Year for Payroll Processing	Select if you want to ensure that no more payruns are processed as part of this year.
Annual Leave Loading Tax Free Threshold	This is the upper threshold for non-taxable leave loading. At time of payment, payroll will automatically tax an employee's leave loading only when their YTD leave loading earnings exceed this limit
E.T.P Lower Cap Amount	This value is the 'low rate' threshold for an ETP payment a person may receive on termination. A lower tax rate applies to this portion, and can only be applied in certain cases. For further information on any of these thresholds, please refer to the ATO website at www.ato.gov.au.
E.T.P Upper Cap Amount	This value is the upper rate threshold for an ETP payment for which a higher tax rate applies. For further information on any of these thresholds, please refer to the ATO website at www.ato.gov.au.
Whole of Income Cap	The whole-of-income cap at July 1, 2015 is $180,000 minus other taxable income you earn throughout the income year. The taxable component of your ETP is taxed based on your age up to your whole-of-income cap. ETP amounts over the whole-of-income cap are taxed at the top marginal tax rate.
Lump Sum D - Year 1 Threshold	This is the base limit for the tax free portion of an ETP payable on redundancy, regardless of how long the employee has been working with the company.
Lump Sum D - Subsequent Years	This is the tax free threshold per completed years of service for redundancy payments.
Round Tax Withheld to (cents)	To round tax to the nearest dollar, enter 100 in this field. This is the recommended option, as the ATO require that tax is submitted to the nearest dollar.
Round Net Pay to (cents)	If you have rounded tax to the nearest dollar, you must round net pay to the nearest cent. Enter 1 in this field.
Max PAYG % for bonus, backpay, commission	The ATO specifies a maximum tax rate for these lump sum payments. This maximum rate is referred to as the 'Withholding limit' (49% is current for the 2015 tax year).
Flood Levy	This item is no longer relevant.
Superannuation Thresholds
Employer SGC Base Contribution (%):	This is the minimum superannuation guarantee contribution (SGC) that an employer can make on behalf of their employees. New super funds and employee super pay items default to this value.
SGC Minimum Monthly Earnings Threshold:	This is the monthly earnings threshold which an employee must exceed before a super contribution is calculated. See earnings thresholds for more information
SGC Maximum Annual Earnings Threshold	This is the legal maximum earnings base on which an employer is obliged to calculate super. When an employee's YTD gross earnings reach this amount, payroll will no longer calculate a base employer contribution.
No Maximum Threshold Specified	Select this option if you wish to ignore this threshold for all employees.
Use Annual SGC Threshold	Select this option if you wish to use the employee's Annual SGC Threshold as the maximum earnings base for calculating super.
Use Quarterly SGC Threshold	Select this option if you wish to use the employee's Quarterly SGC Threshold to calculate the maximum earnings base for each quarter.

3. Click OK when ready.