QuickBooksForum.com.au

Hi everyone,

We have just taken on our first employees and I am using the integrated payroll function in QB.  Since we only have 2 exployees who are paid a set wage each week, I haven't wanted to update to Advantage to get the new tax tables.  I am happy to enter in the adjusted amount off of the tables provided by the ATO.

That is fine for the PAYG component but the problem I am having is that even though both employees have been ticked that they have a HECS/HELP debt, in the payment summary table there is only a deduction line for PAYG.

How do I get it to put in the HECS line so I can manually enter the amount which should be withheld?

If you were using the updated tax tables, QuickBooks would withhold more tax for a HELP Debt employee than a normal employee (all under PAYG). At the end of the financial year, when the employee completes a tax return they have essentially paid more tax then they should have, however the ATO will say "you had a HELP Debt, so you owe us $xxxx" - they is where the additional withholding comes into it.

To calculate it manually you need the HELP Debt tax tables, which can be found at

http://www.ato.gov.au/businesses/content.asp?doc=/content/33283.htm




Regards,


Jason
www.quickbooksolutions.com.au

Thanks for that Jason,

I've used the new tax tables to deduct the PAYG component as well as the HECS component so we're paying our employee the correct amount.

I guess my question is - when I'm manually entering the tax withheld on the PAYG line, should I be adding together the amounts for PAYG and HECS??  I would've thought that there would be one line for PAYG witheld amount, and one for HECS??

Thanks,

Amy

Hi Amy,

No, you just enter the TOTAL HELP + PAYG as one entry. You aren't withholding a HELP repayment, you are just withholding additional PAYG to cover the employee's HELP debt at the end of the tax year.



Hope that makes sense,


Jason
www.quickbooksolutions.com.au