Tax HELP calculation
I have an employee who has HELP debt. The tax deductions that MYOB have done and the employee MYGOV do not correspond. I have done a manual calculation and it corresponds to the amount that MYOB ha...
Forum Discussion
I have done a spreadsheet and manually calculated every tax deduction in the financial year and it does not match up with her MYGOV. Is there a report i can get through MYOB that shows what the HELP calculations on each pay is?
Hi davina2024,
You can check out the payroll reports like the payroll register and payroll summary in MYOB. These reports give you detailed info on the deductions for each employee for each pay period. This should help you manually verify the calculations and spot any discrepancies between your manual calculations and the figures reported in MYGOV.
Cheers,
Princess
Hi davina2024
If the employee is attached to the correct tax table (see Card > Employees > Payroll Details > Taxes) MYOB will calculate any applicable extra for a HELP debt and will add this to the PAYG amount. The total shown on the Payroll Register Summary (YTD Report) should match exactly the amounts appearing on the employee's income statement - as this is where the figures come from. This is because the HELP component becomes part of the PAYG.
If however you set up a deduction payroll category for a HELP component (not recommended), and this payroll category is not assigned to PAYG, this could explain why there is a discrepancy.
Fixing the issue depends on first identifying cause. Update this thread with what you find.
Regards
Gavin
