With the deadline of 31 March fast approaching, time is of the essence – which is why we strongly recommend you make the transition to STP Phase 2 today. If you don’t transition by the deadline, your ability to file pay runs may be restricted until the STP Phase 2 setup has been completed – which will likely be a breach of your reporting and compliance obligations.
The good news is payroll administrators are now able to update the payroll settings and data, and opt-in to STP Phase 2 with just a few easy steps. To start, go to STP Phase 2 Portal in Xero Payroll to progress through each of the following steps:
Step one: Updating employee records to meet the new STP Phase 2 filing requirements.
Step two: Updating income pay items to the new STP Phase 2 filing requirements.
Step three: Categorising existing paid leave types to the new filing requirements
Step four: Switching to Phase 2 reporting. Once your payroll data is updated and you’ve marked each step as complete in the STP2 Portal, you’ll be able to opt-in to Phase 2 reporting.
Don’t forget to mark each step as complete in the STP Phase 2 Portal before moving forward. This ensures your payroll data is accurate and could help reduce filing errors later down the line
If you require any assistance, please contact the Team at HFB Group – we are here to help you.