Over the last week, we have released new updates to our Payroll Platform Closely Held Employees feature and added a new Deduction Importing feature. Read on below to see the details of what these changes entail.
We have released the following functionality:
- The ability to select a reporting method for closely held employees: You can now select whether you will report your closely held employees on a per pay run basis or a quarterly basis.
- Quarterly STP reporting for closely held employees: For employees who you report on a quarterly basis, we have created a new process for you to follow when lodging pay events for these closely held employees.
Any existing employees classified as closely held as at 20 August 202 will have the new quarterly reporting method automatically applied.
Previously, managing employee deductions in bulk was time-consuming, especially if employees had multiple inclusions that needed to be changed regularly. With the release of this additional feature, you can now process these changes quickly and efficiently via the Import pay run Inclusions feature within the Payroll Settings module.