How To Keep Your Pay Funding, Pay Day and Pay Filing In The Same Financial Year

For reporting purposes, you may want the day you fund your pay and the subsequent pay day and filing to fall in the same financial year. Read this article to see what you can do to have them fall in the 2024/2025 financial year.

Updated: February 2025

In this article

Are your deposit- and pay dates in different financial years?
Easy steps to move your pay day to within FY24-25.
An example to make things easier.
Helpful links to further information.
Feeling stuck?

Your pay funding date, employee pay date, and pay day filing - are they in different financial years?

Depending on your typical pay day, you might find that you transfer your deposit to Thankyou Payroll in the current financial year (FY24-25), but your staff will be paid in the next financial year (FY25-26).
Or, your pay funding and employee pay dates are both in this financial year (FY24-25), but the filing falls in FY25-26. Here are possible examples of how this could happen:

EOFY Card_Keep filing and pay same FY24_25

- If your employees' regular pay day is on a Tuesday, you will fund your pay the week before, or on the Monday for overnight processing (in the FY24-25), but the pay day and pay filing will be in FY25-26.

- If you do a same-day pay on Monday 31st March, the funding and pay day will be in FY24-25, but the pay day filing for that pay will flow over to FY25-26.

If you want the day you fund your pay to Thankyou Payroll, the day your staff are paid and the pay day filing to the IRD to sit within the current 2024/2025 financial year, there is a simple solution. Ensure your pay day is no later than Saturday 29th March. This is the cut-off date for EOFY bonuses as well, if you want everything to fall in this financial year.

*If you want the funding, pay day, and filing to fall within the next financial year (FY25-26), fund your pay on Tuesday 1st April for a same-day pay or a pay day later in that week.

How to change your pay day to the current 2024/2025 financial year.

Log in to your Thankyou Payroll account and select Create a New Pay or update the pay already on the dashboard. Update the pay day to no later than Saturday 29 March 2025.

Left-click on the calendar icon next to the pay day box.

Select the pay day from the calendar.

Your blue 'we'll pay' box will move to the selected date.

Select your preferred pay processing plan for this pay from the processing menu.

Your green 'you deposit' box will move to indicate when you have to fund this pay as per your choice of plan.

Pro tip: The last pay day in the 2024/2025 financial year is 29th March 2025 for the pay period ending on Monday 31st March 2025.

If your pay day is after this date, the filing for this pay will fall within the next financial year (FY25-26).

If you pay fortnightly or monthly and part of your pay period falls in the next financial year (FY25-26 starting on 1 April 2025) you will need to split the pay and create two separate pays with different funding- and pay dates to process each financial year's transaction separately.

* The second pay must be funded on or after 1st April to keep that pay's funding, pay day and filing in the same financial year.

Here is an example to make things easier:

Best Bakery uses Thankyou Payroll's 2-day plan and pays their staff on a Tuesday.

In 2025, this means they would deposit their payroll funds on Friday 28 March 2025 and their staff would be paid on Tuesday 1 April 2025.

The owners of Best Bakery do not want this pay to straddle the financial year, for reporting purposes. They want their staff to be paid by 31st March 2025, so that this pay day falls within the current financial year. They also want the pay's filing to fall in this financial year to make things easy for them to keep track of.

This means, the owners of Best Bakery need to log in to their Thankyou Payroll account, and:

Select Saturday 29 March 2025 as the pay day.
If they wish to use the 2-day plan,
they will need to deposit funds for the payroll by 10 pm on Wednesday 26 March 2025.

They pay their staff weekly, so their pay period ends on Sunday 30th March 2025. They do not need to split this pay run.

PayDayMove_EOFY_Example2025

Helpful links for further reading

Did You Know - Green Block (1) Did you know: For more information on how to run a smooth End of Financial Year Payroll, check out our End of Financial Year Guide.

If you are giving EOFY bonuses, this article has key information to help ensure your bonuses are paid and filed within this financial year. Have a look.

Feeling stuck?

Our friendly payroll experts are just an email or a phone call away.

Email us at help@thankyoupayroll.co.nz, or call us on 04 488 7531 for professional, one-on-one guidance.

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