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bazzamed's avatar
bazzamed
Experienced Cover User
4 years ago
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Calculating Holiday Pay in Final Pay payslip

I need some help in understanding how the holiday pay was calculated in attached file. Not sure which is correct so do I overwrite the amount?

 

The Holiday Pay is showing as $3111.67 but the accrued amount is $2443.20 as shown in attached file.

 

Your assistance is much appreciated.

 

Many thnaks

 

Regards

 

Barry

 

barry

 

 

  • jenniek's avatar
    jenniek
    4 years ago

    Hi bazzamed 

    There is HolPay accrued on the Ord time, Covid amount and also annual leave portion paid out - as this all forms part of gross earnings, and Hol Pay is accrued on gross earnings. If you add up 7605.90+585.60+164.40=8355.90 x 8% = 668.47. 668.47+2443.20=3111.67.

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  • jenniek's avatar
    jenniek
    Ultimate Partner
    4 years ago

    Hi bazzamed 

    There is HolPay accrued on the Ord time, Covid amount and also annual leave portion paid out - as this all forms part of gross earnings, and Hol Pay is accrued on gross earnings. If you add up 7605.90+585.60+164.40=8355.90 x 8% = 668.47. 668.47+2443.20=3111.67.

    • bazzamed's avatar
      bazzamed
      Experienced Cover User
      4 years ago

      Hi Jennie

       

      Thanks for the detailed explanation.

       

      Regards

       

      Barry