EOFY payroll can feel like a lot to manage, especially when you are balancing final pays, STP finalisation, reconciliations, compliance updates and preparation for Payday Super.
In our recent Acacia Consulting Services webinar, our team walked MYOB Acumatica users through the key checks to complete before STP finalisation, along with the areas that commonly create stress for payroll teams at year end.
Below is a summary of the main takeaways. For the full walkthrough, please refer to the webinar video <link>
1. Start with Fringe Benefits Tax where needed
If your organisation reports Fringe Benefits Tax, make sure your FBT pay items are set up or reviewed before processing the pay.Different pay items may be required depending on whether the value is grossed up, non-grossed up, exempt or non-exempt. Confirm the correct treatment with your accountant before processing FBT.
FBT should be processed in its own pay group, using the correct FBT year and pay dates. For the 2026 EOFY these are a pay period ending 31 March 2026 and a physical pay date of 30 June 2026.
2. Finalise last pays for the year
For STP and EOFY payroll purposes, the physical pay date is what determines the financial year. A pay period that ends in June but is physically paid in July belongs in the next financial year.
Ensure any adjustments have been completed and STP submissions to date have been accepted by the ATO.
3. Review pay item liabilities and STP categories
Pay item setup can be a source of EOFY payroll reconciliation issues. In MYOB Acumatica, review Pay Item Liabilities and check key settings such as Gross Income, Liable for Super, Payroll Tax, WorkCover where applicable, and importantly the ATO STP categories.
If pay items have been added or changed during the year, confirm the STP categories are still correct before finalisation.
4. Reconcile payroll to STP before finalising
Do not leave reconciliation until the final day.Run an STP finalisation preview, export the values and compare them to payroll reports. The goal is to confirm that payroll and STP totals match, especially at employee level.
Pay close attention to employees with complex pay arrangements.
5. Reconcile payroll to the general ledger
Once payroll and STP are aligned, reconcile payroll to the general ledger.
This involves comparing payroll reports to expense and clearing accounts. Clearing accounts should usually return to zero, or to an expected balance if a payment is still outstanding.
If payroll does not balance to the general ledger, check that pays have been finalised and released, reports are using the physical pay date, and no non-payroll entries have been posted to payroll-related GL accounts by mistake.
6. Submit STP finalisation by the deadline
Once your STP reconciliation is complete and your ledger reconciliation has been reviewed, you can submit STP finalisation.
For the 2026 EOFY payroll process, the key deadline is 14 July 2026.
If your organisation transitioned from another payroll system into MYOB Acumatica during the financial year, you may also need to complete a STP finalisation in the old payroll system, depending on how year-to-date balances and prior BMS details were handled.
7. Prepare for new year compliance updates
Some 2026–2027 compliance updates may be handled automatically in MYOB Acumatica, while others require manual review.
Automatic updates may include tax rates for pays with a physical pay date of 1 July 2026 or later, Employment Termination Payment thresholds and superannuation thresholds where standard threshold settings are enabled.Manual updates may include minimum wage increases or other pay detail updates. Maintain historical pay information through appropriate pay groups.
8. Get ready for Payday Super
Payday Super is almost here. Employers should review system versions, qualified earnings flags on pay items, employee super fund IDs and member numbers, clearing house processes, cash flow considerations and the super batch process.
To be Payday Super ready, MYOB Acumatica needs to be on the required compliant version before the first July pay. Pay items should also be reviewed for Qualified Earnings in the Pay Item Liabilities screen.
If you use MYOB Pay Super, check that your service is active and configured. If you use another clearing house, test your SAFF file upload process early so there is time to resolve any errors.
9. Use MYOB Acumatica tools to reduce manual work
MYOB Acumatica tools such as STP preview and superannuation batches can help reduce manual work and improve visibility.
Superannuation batches can help collate liabilities, identify which pays have already been batched, validate super fund and member data, submit payments through MYOB Pay Super or export SAFF files for external clearing houses.If you have not used superannuation batches before, review historical data first to avoid accidentally including superannuation that has already been paid.
Final reminder
Before processing pays in the new financial year, check that the relevant financial year exists and periods are open in the Master Financial Calendar.This is especially important for payroll-only MYOB Acumatica sites that may not regularly work with financial periods.
For the detailed process, please refer to the webinar video < https://youtu.be/aQv6PAd7RT0?si=MRzRRwsKHt3NRSCz >
This information is general in nature. For advice specific to your organisation, speak with your accountant, the ATO or Fair Work as appropriate.
Need help with EOFY payroll in MYOB Acumatica or MYOB Exo? Contact the Acacia Consulting Services team at helpdesk@acaciacs.com.au.
