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Salary Sacrifice full bonus

Wendy2018

Hi all,

How do I enter a salary sacrifice when the total bonus is being sacrificed. Say 16k bonus and the total is being sacrificed.

I tried entering his bonus and then the sacrifice as a neagative which brings his pay to nil which is correct, but then it asks if I want to void the cheque??

Could some one steer me in the right direction please.

Thank you

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Accepted answers

gavin12345

Hi @Wendy2018

This is simply MYOB's terminology to advise this is a zero cheque, which it is, so yes you do want to 'void the cheque'. Process and report as per normal.

Regards

Gavin

All comments

Wendy2018

Hi Doreen,

Could i get some further help please as this doesn't really answer my query. The Salary Sacrifice has been paid direct to his external Super co.

this employee has a BONUS of 16,000.00 so I enter thus as Bonus which is an expense account-Wages

then I'm entering a negative -$16,000.00 to the Salary Sacrifice liability account - Superannuation Payable.

So the net Pay is $0

Then I get a message asking "Do you want to Void this Cheque"

Am I entering this correctly? as I don't want to record it and send to ATO unless it's correct.

Thank you

Wendy

Doreen_P

Hi @Wendy2018

Thanks for your post.

When entering salary sacrifice, that depends if the salary sacrifice will go to employee purchases or salary sacrifice for superannuation. Kindly check The Help Article Set up salary sacrifice superannuation and Salary sacrificing.

Please let me know if you need further assistance.

If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.

Best regards,
Doreen