Additional super payment to be deducted/paid from employee pay
One of our employees has requested a set out amount to be deducted from their fortnightly pay. This is the first time we have had an employee requesting to do this so have a few questions -I have also reached out to our accountant for assistance too but thought you guys may be able to assist too. I can see in the Superannuation section of the employee card there is two options "Employee Additional" and "Salary Sacrifice".....my understanding is: Employee Additional is paid from their after tax/net pay and they then notify their superfund so the tax adjustment can be done end of year when they lodge their tax return Salary Sacrifice is paid from the pre-taxed income - therefore reducing their taxable income. As an employer are we obligated to do provide salary sacrifice option? From an employer or processing of payroll perspective is there a reason we would not want to provide salary sacrifice options? Is there many differences when processing payruns or would either option be the same once the category has been setup against the employee card? If Salary Sacrifice, therefore reducing their taxable income, as we still need to calculate their SG entitlement on their ordinary income (OTE), not the reduced income.....now this one is prob a stupid question but as I haven't done it before so I'm going to just ask! I'm assuming MYOB is set-up to do this automatically and we don't have to do any extra steps to manually calculate the super on the OTE? I know when we create our superannuation contributions through our preferred fund clearing house there are fields for "Employer SG" (i.e. standard that we use) and then "Employee Additional" and "Salary Sacrifice" so from the actual contribution I don't see that being too different .....just an extra field to fill in. Is there a standard form they should be filling out to nominate this - i.e. from ATO website or from their superfund.....or is an email from the employee sufficient? Assuming at this point the employee would have to nominate which option they'd prefer (employee additional or salary sacrifice)? As I said, this is the first time we've been asked about this and while waiting for the accountant thought I'd reach out to the community here for so I can get your view of it too....especially as you guys would have experience with the processing through MYOB side of things. TIA
Annual Leave accrual - Pay Basis - Hrly Employees
On the 7th May I was processing the weekly pay for our 60 employees who are on an hourly rate of pay. MYOB decided to have a moment and shut down while this was going through to the ATO. I waited for 45 minutes before it would let me back into the system. After this occurrence i had to start again. The next day I was informed by our employees that their annual leave accrual had dropped off and did not accrue for the week. This was not just one but all employees that it happened to. My questions to the group are has this ever happened to anyone before? Does anyone know of any major upgrades that are happening in May? And I how would you rectify this?MYOB AccountRight Premier before buying questions
Hi all, I am writing from a small company in the Pacific. I want all our finance team members to use MYOB AccountRight Premier but I am not sure how it works. When buying the product will it work outside New Zealand and Australia? Will one monthly plan work on multiple users example (10 employees)? Is MYOB AccountRight Premier accessed through the web or is it a desktop application? Please if anyone can help guide me here because I can't see much info regarding this matter or I may have missed them. So any help is appreciated. Thanks
Prior year overpayment
I have a client who has identified an overpayment of $12K to a staff member in 2022/23 FY. In order to correct this, I need to "unfinalise" him, enter an Update Event through STP to correct the YTD and then re-finalise him. However, the initial finalisation was processed in AccountRight Plus, but the client now uses Business Pro and so last year's finalisation does not show in the STP Reporting section. How can I access 2022/23 Finalisation to correct? Thanks, Marise
Time Billing not converting to Payroll
In the last couple of weeks when we've converted the Time Billing entries over to Payroll it deletes a whole lot of information. Today, 13 out of 19 employees needed changes to the entries. Any help with what's going on please. We've used MYOB for years and never had this problemHow to pay Carry forward concessional Super contribution in Account Right system
Hello Team, We are going to pay employee SSR Before deduction for the unused concession contribution (Last 5 yrs) . The total amount is from employee Mygov ATO record and we want to lump sum for this employee. can you please advise how can set it up in MYOB account Right system ? how to process this pay ? will it cause employee to pay extra tax after this payment ? Thanks
