EOFY Payroll Preparation Checklist 2024 (NZ)

As we quickly approach our 2024 EOFY, it is imperative that your business starts preparing in advance for your final pay runs and lodgements!

To assist you with this, we have put the below list of items which will help prepare you for this busy time of year:

IRD Submission Dates

Check Employee Data

• Ensure there is a copy of all employee information for the full tax year (including KiwiSaver)
• Check that all pay deductions have been documented, as well as KiwiSaver deductions and
  contributions
• Ensure there are employee agreements for all employees, that accurately reflect their current
  employment
• Confirm that any employees on temporary visas are correctly marked
• Make sure that all payroll and financial data is backed up and securely stored
• Run the ESCT Rate report and update any employee ESCT rates
• Check and update any employees who are on minimum wage to the new rate of $23.15
  (or the training and starting out minimum of $18.52)

Finalise payroll

• Check employee data
• Process the final pay run for the financial year 2023/24 before 31 March 2024
• Complete a final check to ensure that payslips, tax codes and pay data are correct
• Run a reconciliation report to check what has gone through payroll, and what is due to IRD
• Submit all pay runs’ payday filing employment information to the IRD
• Review any upcoming changes to payroll and KiwiSaver
• (Optional) Generate earnings certificates for all employees and distribute them