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Can someone please advise if it's possible to have these accruals recorded at the same time as processing normal salaries and/or payments to subcontractors who qualify for these accruals. I'm mainly interested in recording the ongoing liability for these payments so that manual entries don't have to be completed each week/quarter etc.
Yes it is and it can be done very easierly.
Firstly create a new "Payroll Category" called "Long Service Leave" make it an hourly type eqaul to 1 time regular rate and tick off the automatically adjust base hourly or base salary details tick box.
Then create a new "Entitlement Category" called "Long Service Leave accural". This should be set up with a % per pay period and the % may vary depending upon which state you are in. In Qld it is 1.6667%. the linked "Payroll Category" should be "Long Service Leave". See attached file.
Now just link every employee that is entitled to LSL to these categories. I usually have them set up and link emplyees to them when they reach their 5yr anniversary.
You should also calculate the amount of LSL outstanding, as at the date of you creating the LSL entitlement, and enter this amount in the carryover column in the entitlements for each employee.
Every payrun from then on will show long service and you will also be able to run the Entitlements report to show LSL.
a month ago
Hi, I am also trying to record Construction Industry Long Service Leave accruals. These are not the same as normal long service leave as it isn't paid to the employee - its more like a super fund where the contribution accrues based on their wages and the accrued values are paid into a fund.
I can't find anywhere to record the value of the accrual as it isn't per hour, its 1.35% of the applicable earnings (and not all earnings are applicable so i can't just select it as a percentage of the gross wage either) and if I enter an amount next to the deduction, it reduces the employee's wage so i need to show it as being accrued first and then deducted so the pay stays the same.
How can I record the accrual so that it adds the $ value to the employees wage so then I can take it off again as a deduction? The earnings categories don't seem to allow for anything other than hours or fixed values.
a month ago
AccountRight allows for the user to accrue entitlements in the following means:
In terms of Equals x Percent of x, this calculated on the hours of an employee, not the dollar value that the employee is paid.
If you are required to calculate it based on the dollar value that the employee I would be using the calculation basis of User - Entered Amount per Pay Period. You would then manually to calculate the number of entitlement hours required and enter that against the entitlement category on the Pay Employee window.
a month ago
We have just switched to MYOB from Xero and that accounting package didn't have any easy or obvious solution either. It would be great for an accouting software to have an easier way to record this as it's an Australia wide compulsory entitlement (where applicable of course) and it really is just like a super fund so it would be great to be able to set it up in a similar way.
Thanks for your reply though, much appreciated. :-)