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Shepai-8-2017's avatar
Shepai-8-2017
Trusted Cover User
7 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...
  • Shepai-8-2017's avatar
    Shepai-8-2017
    7 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

Doreen_P's avatar
Doreen_P
MYOB Moderator
7 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's avatar
Shepai-8-2017
Trusted Cover User
7 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's avatar
    Isaiah_C
    MYOB Moderator
    7 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 

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