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Neelam's avatar
Neelam
3 years ago

Salary Sacrifice Post tax deduction

I am having confusion to create post tax salary sacrife mortgage payment for one of our employee.

I am thinking of creating new payroll category in deduction so both of the deducted amount shows up in payslip.

 

What will be the Linked Payable account for this type of deduction?

I have created a liability account for Pre-Tax Salary sacrifice deduction. Do I use the same one or Should I create a new Liablility account.

Also what will be the ATO reporting Categoy?

 

 

 

 

1 Reply

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  • Tracey_H's avatar
    Tracey_H
    Former Staff
    3 years ago

    Hi Neelam 

     

    Thanks for your post. The Linked payable account is the account in which the deducted money will be accrued. If you want to track a deduction separately you can create a new liability account for that deduction. This way the Balance Sheet will display the deductions separately. The liability account you select as the Linked payable account will depend on your reporting requirements.

     

    We're not able to advise on the ATO reporting categories you need to assign to payroll categories. The Help Article, Assign ATO reporting categories, has general information. However, if you're not sure we do recommend speaking to your accountant or the ATO.

     

    The Help Article, Deductions, has information to help with setting up and paying deductions.

     

    Please let me know if you need further help.

     

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

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