Forum Discussion

Experienced Cover User

7 months ago

Solved

Entitlement Category for LSL Salary - calculation

Hello I have an employee that will be entitled to LSL in July and LSL has never been set up. I want to set up an entitlement category for LSL-Salary. In the MYOB LSL notes, I need to use Example ...

Genreve_S
7 months ago
Hi Anewbee,

The calculation for LSL you mentioned looks like it lines up with the general formula just fine. If you want to be absolutely sure though, it’s a good idea to check in with a financial advisor.

As for adding the hours the employee is entitled to, you can sort this out by doing a nil pay with just the LSL entitlement hours you need to adjust. You can read more about the process from this link.

Regards,
Genreve

Genreve_S

MYOB Moderator

7 months ago

Hi Anewbee,

The calculation for LSL you mentioned looks like it lines up with the general formula just fine. If you want to be absolutely sure though, it’s a good idea to check in with a financial advisor.

As for adding the hours the employee is entitled to, you can sort this out by doing a nil pay with just the LSL entitlement hours you need to adjust. You can read more about the process from this link.

Regards,
Genreve

Anewbee
Experienced Cover User
7 months ago
Hi Genreve_S

Just wondering if I could please ask another question. When I do a zero-dollar (void) pay to adjust the LSL hours as per the MYOB instructions under Adjusting leave entitlements. Does it matter that the date on the nil pay slip is the same date as the fortnightly pay slip? I'm thinking I might get a message when I submit it to ATO for STP reporting asking if I’m updating the pay slip and if I do, I’m not sure whether I would say yes or no as it's a separate pay slip?

Thank you, I will appreciate your assistance!
- Earl_HD
  MYOB Moderator
  7 months ago
  Hi Anewbee,
  
  Really good question! It’s totally fine for the nil (zero-dollar) pay slip to have the same date as your regular fortnightly pay. The main thing is just making sure it’s processed as a separate pay, think of it like a one-off adjustment to get those LSL hours spot-on. Additionally, If you get a prompt from the ATO you’d want to select “No” here.
  
  I hope this helps!
  
  Regards,
  Earl
  - Anewbee
    Experienced Cover User
    7 months ago
    Earl_HD Thank you that's a great help, really appreciate it!!!