How To Run End of Financial Year Reports

This article will show you how to run your end of financial year (EOFY) reports easily.

Updated: February 2024

In this article

• Information needed for the end of financial year reporting.
• Where do I access this information?
• Quick reports for end of financial year reporting.
• Information in Thankyou Payroll vs Xero.
• Feeling stuck?

Information needed for End of Financial Year Reporting

 At the end of each financial year, you will need the following information for your end-of-year accounts:

• gross pay for the 12 months before your balance date,
• gross KiwiSaver contributions for the year, and
• total leave liability on your balance date.

Where do I access this information?

You can easily access this information in Thankyou Payroll from your Employee Report. Follow this link to find out more about Employee Reports and all the data they contain.

From the Dashboard, go to Reports/Archive and select 'Employee Reports' from the dropdown menu. This will take you to the Employee Reports page where you can generate and download the needed information.

The information you need is displayed first in the report, before each employee's year summary:

1. Gross pay total for the 12 months before your balance date.
2. Gross employer KiwiSaver contributions for the year.
3. Total leave liability on your balance date.
4. Select the 'Download Report' button to download the CSV file, which can be imported into other reporting software or opened in Excel. The leave liability CSV date export will give you the leave liability based on the pays that have been processed up to this date.

Please note: The figures in the leave liability section of the report is displayed differently in the CSV export than in the Employee Report on your screen. This is because: the CSV file breaks the 8% of gross into 2 amounts: the 8% since most recent anniversary, and the 8% for alt days and allocation leave yet to be paid. The following numbers will match exactly: holiday pay balance are exactly the same the dollar value of leave in advance are the same.

Quick Reports for End of Financial Year Reporting

Another way to access information for your EOFY reporting is through Thankyou Payroll's Quick Reports. 

Quick Reports do not have customisation, other than selecting the employees to include in the date range selected. The benefit of Quick Reports is that they are pre-set with the nine most frequently used report types, so all you have to do is select the type of information report you want to generate.

You can select:

• the date range for the report,
• the employees you wish to include in the report (present and past employees), and
• the type of information you wish to export. Select from nine pre-set report types.

Once exported you'll be able to open the file in Excel or another spreadsheet program.

Information in Thankyou Payroll vs Xero

As you look at your EOFY reports, you may notice that the date of payment to Thankyou Payroll does not match the month when this payment was filed to IRD.

This is because the payroll period a pay is filed into is based on the pay day in Thankyou Payroll, not the date of payment to Thankyou Payroll.

*To ensure your last pay day for FY23-24 is filed within this financial year, your pay must be funded by Thursday 28th March for a pay day no later than Friday 29th March 2024. 

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.

Making payroll easy. Supporting you.