Forum Discussion

Rosemary_23's avatar
Rosemary_23
Experienced User
4 months ago

New One Off Termination Pay

Hi,

 

I am preparing our regular fortnightly pay run which will be paid on Friday. I have been requested to process a termination pay tomorrow. Is there a way to create the Termination pay without loosing my current open pay ?

 

Thanks,

Rosemary

2 Replies

  • Isaiah_C's avatar
    Isaiah_C
    MYOB Moderator
    4 months ago

    Hi Rosemary_23,

     

    Thanks heaps for your post and love your work SupportNoteGuy, those instructions will be super helpful for anyone in Australia who comes across this post. For anyone in New Zealand, it works a bit differently. You can actually process the employee's final pay right alongside your regular fortnightly pay, so you don't need to close anything off first.

     

    Here's the link that walks you through the NZ process step-by-step: Processing a final pay.

     

    Regards,

    Sai

  • Hi Rosemary_23​ - thanks for the question.

     

    You will need to start a new pay run to process a final pay. This means if you have a saved pay run, you won't be able to continue it - you'll need to start a new pay run instead:

    Then, in the new pay run you can choose Final pay as the Pay cycle. This steps you through the payment of unused leave.

    Here is a help topic that explains everything you need to know about processing a final pay.

     

    If the employee is being paid a Employment Termination Payment (ETP) as well as their final standard pay and unused leave, take a look at this help topic about recording the ETP.

     

    I hope this helps!

     

    Adrian