Employee Pay Rates Rounding to 2 Decimal Places When Using "Regular Rate Multiplied By"

Question

Hi All,

When using the option "Regular Rate Multiplied By" in the pay items, the system calculates the pay rate and rounds to 4 decimal places. Please see the example as following. Base rate: 25.35. 25.35 x 1.5(Overtime (1.5x)). MYOB calculates it at: 35.0250. We would like the pay rate to be rounded to 35.03. Your assistance would be appreciated.

Earl_HD · Answer

Hi @J_Tan,

You can submit your suggestions on our Ideas Exchange page, where customers can suggest improvements and vote on other members' ideas. This way, our developers will see it and might include your suggestion in a future update. MYOB AccountRight Ideas Exchange
MYOB Business Ideas Exchange

Regards,
Earl

J_Tan · Answer

Could I formally request MYOB team consider this when rolling *out next update? or Could MYOB seek Fair Work clarification on this if we pay our *staff per Awards- Are we considering under-paying* our staff?

Doreen_P · Answer

Hey @MattWL,

MYOB AccountRight calculates the pay rate to four decimal places, as shown in your example where a base rate of 25.35 multiplied by 1.5 results in 35.0250. The system does not round this to 35.03 as you would prefer. This behavior is consistent with the system's design to maintain precision in calculations.

Best regards,

Doreen