I need to back pay leave loading for several years for an employee. This entails multiple hourly rates as they increased over time and also increasing superannuation rates over the period in question. Do I have to do separate 'unscheduled' payrun for each different hourly rate to get the correct leave loading etc. Many thanks for any help!
Hi celiaRGD,
Your situation is a bit tricky because you need to account for different hourly rates and superannuation rates that have changed over time. Yes, you'll need to create separate unscheduled pay runs for each period with a different hourly rate. This ensures that the superannuation rates and leave loading are correctly applied and calculated for each period, complying with the applicable rates and regulations. Also, keep in mind the payroll year you'll be paying back leave in, MYOB only covers the previous and current payroll year. If it’s before the 2023-2024 payroll year, you’ll need to manually lodge forms with the ATO. I highly recommend speaking to your accountant to handle these payments for accurate tax reporting.
Cheers,
Princess
