JobKeeper Enrolling with Xero Software

Step 1 – Enrolling for the JobKeeper Payment with Xero Software

As previous reported, businesses can only enrol if they have had a decline in turnover, your business has experienced or is likely to experience a fall in turnover of at least 30%, at least 50% if your turnover is more than $1 billion, or at least 15% if you are an ACNC-registered charity other than a school or university.

To help you decide if you qualify for the JobKeeper payment, you can use Xero’s turnover calculator to compare your turnover for March 2020 to turnover for March 2019. The calculator is intended to be indicative of eligibility only. See the ATO’s guidance for applying the turnover test to ensure you meet the qualifying criteria.

The calculator works by reporting on your transaction data using tax rates. If your Xero organisation isn’t set up as GST registered, you won’t be able to use the calculator.

To run the turnover calculator:

1. In the Accounting menu, select Reports.
2. Under Tax, click Activity Statement.
3. Click Check your eligibility in the banner at top of the activity statement.
4. Select the required accounting basis. The calculator defaults to cash basis, click on Cash if you need to select accruals basis instead.
5. (Optional) If you need to make an adjustment to the turnover figures, edit the figures directly to recalculate the change in turnover.

The calculator presents the change in turnover between the turnover test period and the comparison period. If you’re satisfied you qualify, log in to the ATO Business Portal to enrol for the JobKeeper payment or you can contact your usual Poole Group accountant to assist you with enrolling.  Call us on 07 5437 9900.

Xero is working on adding additional reporting periods to the eligibility calculator. However, until then, you can run the Profit and Loss report if you need to view a comparison of other periods.

 The next step is to identify and maintain your eligible employees.  In Xero, you can access a list of employees who might be eligible for JobKeeper payments. You need to review the list, confirm eligible employees, then add a JobKeeper payment start date next to their names. You can see the eligibility criteria on the ATO’s website.   Again, Poole Group is hear to assist you with identifying your eligible employees, call us on 07 5437 9900.

Xero has released video demos, to assist getting ready for the JobKeeper payment and how to report payruns correctly to the ATO.  To access these videos please make sure you have your Xero login details handy & access to the Authenticator app.

1. JobKeeper Payment: how to get ready in Xero: here
2. JobKeeper Payment: how to report payruns correctly to the ATO: here