EOFY Hub for
MYOB Exo Employer Services
2022 EOFY Hub for MYOB ES
In this EOFY Hub, you’ll find the key resources you’ll need to complete your EOFY processing for 2022 and compliance upgrade for MYOB Exo Employer Services.
The Australian tax release of MYOB Exo Employer Services (2022.01) is now available. You will need to install this upgrade before your first pay run of the 2023 financial year. The MYOB Exo ES 2022.01 Release Notes are available here>.
Disclaimer: The following information is a general guide only. Not to be relied on as legal, accounting, financial or taxation advice. Must be read subject to all documentation provided by MYOB (including release notes, whitepapers and guides).
What to expect in the 2022.01 release:
- STP 2 reporting is mandatory upon upgrade to the 2022.01 release. Unless you have upgraded to the 2021.09 release before the EOFY (which is recommended), you will need to make some configuration changes after the 2022.01 upgrade and before your first STP submission of the 2023 financial year.
- The following super changes will take effect from 1 July 2022:
- the super guarantee (SG) percentage will increase from 10% to 10.5%. The new rate must be used to calculate super on payments you make to employees on or after 1 July, even if some or all of the pay period is for work done before 1 July.
- the $450 per month threshold for super guarantee eligibility will be removed and you only need to pay super for workers under 18 when they work more than 30 hours in a week. You will need to make this change in your MYOB Exo ES software manually – see Release Notes for details.
- HELP Threshold changes. The threshold changes are automatically applied.
- The Seasonal Worker Program (SWP) is being replaced by the Pacific Australia Labour Mobility (PALM) scheme. You will need to indicate you are an approved PALM employer in the payroll setup screen
- Employment Termination Payment (ETP) threshold amounts have changed. You will need to update your payroll setup with the new values.
Refer to the MYOB Exo Employer Services 2022.01 Release Notes for full details.
Mid-late June 2022:
Install the compliance upgrade of MYOB Exo Employer Services (now available). You must upgrade before processing your first pay on or after 1 July to load the tax tables for the new financial year. Transition to STP Phase 2 is required as part of the upgrade.
14 July 2022:
Finalisation Event due. Pay information will be Tax Ready for employees via myGov when the Finalisation Event is submitted successfully. PAYG payment summaries are no longer available – they were superseded by Single Touch Payroll.
EOFY Guide Release:
Watch our MYOB ES EOFY Webinar
View our client webinar held on 26 May 2022. It has not been updated for any changes occurring after that date. Refer to the MYOB Exo Employer Release Notes for the most current and detailed information available at the time of your upgrade.
MYOB Exo ES EOFY Payroll FAQs
When do I need to transition to STP Phase 2 Reporting?
You must transition to STP Phase 2 reporting before processing your first pay of the 2023 financial year. Refer to our STP 2 Hub for all the details.
How do I enter Reportable Fringe Benefits?
You will need to run a one-off pay that includes the FBT details. See above for further detail on how to process your fringe benefits amounts as part of your EOFY payroll processes. Refer to MYOB’s End of Financial Year Guides for more detailed instructions, and for more FBT resources, refer to The ATO’s FBT Guide for Employers.
How do I install the New Release?
You’ll need to install the new release before processing pays with a physical pay date occurring on or after 1 July 2022, otherwise PAYG withholding tax will not calculate and the employer super changes will not be applied.
There are two different upgrade methods to choose from:
1. Upgrade software online. This method downloads the file and upgrades for you. Go to Help > Upgrade Software Online.
2. Upgrade software manually. This method requires you to download the austupgrades file and then use either Help > Upgrade Software or execute the austupgrades file. Click here for detailed instructions on how to upgrade software manually.
Upgrade software online:
- Check that your system meets MYOB’s Minimum System Requirements.
- Run the upgrade under a Windows account with administrative privileges.
- Ensure that all other users have exited all EXO Employer Services products.
- Ensure that there are no Current or One-Off pays open.
- From the Help menu, select Upgrade Software Online.
- EXO Employer Services Update Wizard will check for updates. If an Update is available, the Update Available window will be displayed. Click Next.
- Follow the on-screen instructions to download and install the latest update.
- Once the process is complete, click Finish.
- EXO Employer Services will automatically start up again.
- You may be prompted to upgrade your data to the latest version. Follow any on-screen instructions.
Check that the new release installed successfully by checking that the updated version number is displayed on the About window (Help menu > About). The compliance release is 2022.01.
Do I need to close the current period and roll over to the new financial year?
As MYOB Exo Employer Services is enterprise software, you do not need to close the current period and roll into a new period at EOFY. However, you do need to install the most up-to-date compliance upgrade for your MYOB Exo Employer Services software. It’s also best practice to lock down the financial year after your final pay has been finalised. You can do this in the Setup Payroll > Other Setup | Other window by entering a Financial Year Lockdown Date so that no transactions can be updated on or prior to that date.
When processing fringe benefit amounts, should I enter the grossed up or ungrossed up amount?
The amount of the Non-Cash Benefit is grossed up by the value of the Type to determine the reportable amount of the Fringe Benefit.
Type 1 – use where the employer is entitled to an input tax credit for this fringe benefit under the GST legislation.
Type 2 – use where the employer is not entitled to an input tax credit for this fringe benefit under the GST legislation.
You can enter the reportable fringe benefits as either a grossed up or un-grossed up amount.
If you enter an un-grossed up amount (Type 1 or 2), then the system will calculate the grossed-up amount for you depending on the fringe benefit type you selected.
If you enter a grossed up amount, you can select (either Type 1 or 2), then tick the Override Rate check-box and enter 1 for the Override Rate.
NOTE: Using a Grossed Up amount will cause the Threshold above which the RFBT is reported on MyGov to be understated, for example a threshold of $2,000 would mean that a Grossed Up amount of $2500 would be reported, when in fact the Threshold for the Grossed Up amount would be $3773.60 for Type 2 or $4160.40 for Type 1.
Do I need to submit a Finalisation Declaration if I have my settings to auto-submit STP events?
YES. All sites that started STP reporting must send a Finalisation Event to the ATO for each employee, even if they auto-submit every Pay Event update. The Finalisation Declaration replaces the Payment Summary Annual Report (PSAR or EMPDUPE) file that used to be sent to the ATO before STP reporting commenced. To advise your employees about STP, you can refer them to this ATO STP Fact Sheet for Employees.
I'm running my first pay of the new financial year, but no tax is calculating. What should I do?
Check that you have successfully installed the most recent compliance upgrade of your Exo Employer Services Software, as it will include the tax tables for the 2022 financial year. You can check which version is currently installed on the About window (Help menu > About). Click here for tips on how to install the most recent upgrade.
If you have installed the most recent upgrade after you have started the pay, you will need to open the first employee in the pay and click Next or F8 through each employee in the pay to recalculate the tax using the new tax tables.
How do I install the upgrade on a terminal server?
You need to ensure that you:
- Login as a full administrator (full administrator privileges are required)
- Place Terminal Server into install Mode (in a cmd window – change user /install)
- Install the upgrades pointing to the correct folder based on the current installation (check the shortcut for details)
- Once installed, locate Network.exe in the installed folder (see above) and execute, this will install the workstation components in the user environment(s) and you then register or activate any drivers required.
- Set the terminal server to execute mode (in a cmd window – change user /execute)
Click here for more detailed tips on how to install the most recent upgrade on a terminal server.
I can't print payslips (Error Code 30)
To resolve this error, you will need to run Network.exe. Click here to find out how.
My employee is locked out of MyStaffInfo. What do I do?
To unlock your employee’s MyStaffInfo account, click here and log in as the Web Administrator. Once you have logged in, you will be prompted to unlock the employee’s account. If you have forgotten your Web Administrator credentials, then go to the MyStaffInfo console in Exo Employer Services and insert or edit the Web Administrator’s password by following this menu path: Pay > MyStaffInfo > Preferences > Create a Website Administrator Account.
I have received an error: Error 0 STP failed to connect. What should I do?
How do I amend after submitting a finalisation event?
If you identify the need to amend details after making a finalisation declaration you should submit these as soon as possible – within 14 days of detection or your next regular pay event. Amendments to finalised STP data can be made through your MYOB Exo Employer Services software. The ATO recommends you tell your employees when you make an adjustment that will be reflected in their income statement. If they have already lodged their tax return they may need to lodge an amendment. The ATO says that lodging an amendment to finalised STP data may impact your employees in the following ways:
- Amendments to STP data before the employee has lodged their tax return will result in an updated Tax readyincome statement which will be available in ATO online and myTax pre-fill.
- Amendments to STP data after the employee has lodged their tax return which results in a refund will result in the ATO amending the return and issuing an amended assessment and refund.
- Amendments to STP data after the employee has lodged their tax return which results in additional tax payable may require the employee to take action.
- The ATO will contact the employee to let them know what they need to do.
For further information, refer to:
If the amendment relates to a PSAR that was submitted before you commenced STP reporting, click here for ATO guidance on how to lodge amendments to your Payment Summary Annual Report.