How opening balance should be imported depending on your old system and preference.
Old system is not Single Touch Payroll ready
You should import Year To Date amount from the last pay run in old system to HeroPay.
You have 2 options to import Year To Date/ Opening Balance amount
Option 1 - In bulk using import function:
- Go to Payroll Setting/ Opening Balance.
- Select Export button on right hand corner.
- From Data Type drop down menu, select Template with employee data (including terminated employees).
NOTE: Opening Balance should include Terminated Employees who have received payment in current financial year.
E.g. current FY is 2018/2019 and you transited to HeroPay in middle of the year, opening balance should include all employees who received payment in 2018/2019, including those who have been terminated in old system.
If you do not import OB for employees who were terminated in old system and received payment in 2018/2019, you would need to generate payment summary for those employees from old system.
- Select Download
- Update the file, following detailed instruction here
Once you have saved the updated file, follow below steps
- Go to Payroll Setting/ Opening Balance.
- Select Import button on right hand corner.
- Select File
- Select Confirm Upload
Option 2 - Update each employee record:
Follow the instruction here
- If you make mistake during first import, you can change the data using one of above options. New data will overwrite existing data in employee’s opening balance.
- Ensure Initial Financial yeat selected in Payroll Setting/Opening Balance page is correct and do not change the year once you have set it up, employee’s opening balance is related to this Initial Financial Year.
Old system is Single Touch Payroll ready
Once you migrate to HeroPay and enable Single Touch Payroll, you have option to use new BMS provided by HeroPay or keep BMS from old payroll system.
What is BMS?
Business Management Software (BMS) ID: This is the unique ID that is used by the ATO to identify your business. You are only required to do something here if you were previously lodging STP events during the financial year using another payroll platform and want to migrate that platform's BMS ID to this platform. Refer below on the rules for changing BMS IDs between payroll systems. To change the BMS ID, once you have enabled STP on HeroPay, click on "Change" whereby the following popup will appear:
Rules for changing BMS during financial year
The rules and scenarios outlining how to transition from one BMS ID to another mid financial year are as follows:
Option 1: You can change the BMS ID to the original/previous BMS ID if you transfer all YTD employee wages to HeroPay. Instructions on how to do this are provided above.
Option 2: If you transfer all YTD employee wages to HeroPay and you DO NOT want to revert to the original/previous BMS ID (that is, you want to keep the new BMS ID) you will need to zero the employee YTD values from the old BMS ID (and hence old payroll software). This will need to be done via an update event in order to prevent duplicate information being submitted to the ATO. Refer to your old payroll platform instruction to lodge update event.
Option 3: If you do not transfer YTD employee wages to the new payroll system and you DO NOT want to revert to the original/previous BMS ID (that is, you want to keep the new BMS ID), you will be required to finalise employees reported under the original BMS ID. That is, the final pay event under the original BMS ID (ie the previous payroll software) will need to be marked as a final pay event. Refer to your old payroll platform instruction to lodge final pay event.
If you select Option 1 or 2, i.e. transferring all YTD employee wages to HeroPay, follow instruction from 1 of above 2 options to Import Opening Balance.
If you select Option 3, i.e. not transfer YTD wages to HeroPay, you are still required to importing employee’s leave balance after the last pay run in old payroll platform. Follow instruction from 1 of above 2 options to Import Opening Balance, however you are only required to import leave balance.