Forum Discussion

Shepai-8-2017

Trusted Cover User

10 months ago

Solved

Leave Exemptions

Hi,

HELP PLEASE!

Getting confused with the leave exemptions. I think YTD balance is not correct.

What are the leave exemptions for:

Annual Leave full time hourly - I ticked Overtime Pay

Annual Leave Loading hourly - I ticked Overtime Pay

Personal Leave full time hourly - I ticked Overtime Pay

What are the correct exemptions?

Also, how to zero out Personal Leave accrued from 2024-2025 because any balances should not be carried over to the next financial year.

I think I missed to untick the "carried over to next year" option.

Thank you,

Shepai

Shepai-8-2017
10 months ago
Hi Doreen,
Our accountant is on holiday for a month.
We just have simple payroll items.

Annual Leave - we are paid on hourly basis, so it is correct to exempt Overtime Pay.
I asked someone, she said I should exempt Annual Leave and Annual Leave Loading and Personal Leave too.

Is there a standard way of knowing which are exempted?

Please advise because I have to process the first pay this FY and I want everything to be corrected.

Kind regards,
Shepai

3 Replies

Doreen_P
MYOB Moderator
10 months ago
Hey Shepai-8-2017,

With leave exemptions, you're usually ticking off the pay types that shouldn't count towards leave, like Overtime Pay. Since every setup's a bit different, having a quick chat with your accountant is the safest. With the Personal Leave accrued that you'd like to zero out, you can do a void pay and pop in the negative hours against the Personal Leave pay item to get things back to zero.

Cheers,

Doreen
Shepai-8-2017
Trusted Cover User
10 months ago
Hi Doreen,
Our accountant is on holiday for a month.
We just have simple payroll items.

Annual Leave - we are paid on hourly basis, so it is correct to exempt Overtime Pay.
I asked someone, she said I should exempt Annual Leave and Annual Leave Loading and Personal Leave too.

Is there a standard way of knowing which are exempted?

Please advise because I have to process the first pay this FY and I want everything to be corrected.

Kind regards,
Shepai
Isaiah_C
MYOB Moderator
10 months ago
Hi Shepai-8-2017,

You're on the right track thinking about what should be exempt when it comes to leave and overtime, but just a heads-up, we're not able to give financial or accounting advice, so we can't say for sure what's right for your setup.

Since every business can be a little different, it's always best to double-check with your accountant or even have a quick chat with the ATO just to be sure everything's spot on before you process your first pay for the new financial year.

Regards,

Sai