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Finalise your STP for the end of the financial year
Finalise your STP for the end of the financial year

Single Touch Payroll Finalisation at the End of Financial Year (EOFY)

Updated this week

Payroll Finalisations are used to complete an employee’s income statement for the end of the financial year, so they can file their tax return.

Creating a finalisation

Once you have completed the final pay run of the financial year and are ready to submit your finalisation, navigate to Payroll > Single Touch Payroll > EOFY Finalisation and create a new Finalisation.

Select the payroll file and financial year that you want to finalise. (If you have multiple company files, you will be required to create a finalisation for each)

Processing the finalisation

Once you have created a finalisation, you will see a list of all employees that are currently active, and/or active within the last financial year. A finalisation event needs to be submitted for any employee who has been paid within this financial year.

EOFY finalisation frequently asked questions

Can I finalise some employees now, and do the rest later?

Yes, you can select which employees you would like to finalise. Once this has been run, the finalisation status will be updated.

I finalised the incorrect amounts, how do I redo the finalisation event?

If you submitted the incorrect information in the finalisation, you should create a new finalisation event (step 1 in this help guide), make the relevant updates and submit another finalisation for the impacted employee(s).

How do I finalise employees that have never been paid from Tanda, but were paid this financial year in my previous payroll system?

If you have transitioned from another payroll system this financial year and there are employees that have never been paid out of Tanda, it is best to finalise them in your previous system.

To finalise them from Tanda, you would need to upload all of their year-to-date opening balances, tax declaration and address details and submit an update event to the ATO before the finalisation is submitted.

How do I record fringe benefits for my employees?

To add fringe benefits, click on an employee’s name, and a menu will appear showing the employee’s year-to-date balances. You can add or edit their fringe benefits amounts here.

My employee is flagged as not being STP ready, how do I fix this?

The STP-ready check ensures that the employee has all of the required fields complete on their profile that are required to submit to STP. This includes tax declaration and address.


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