Wrong Calculations in Payroll
I have an employee on a salary of $60,268.00 a year. That's $28.98 an hour, at 80 hours that is $2318.40 a fortnight. Yet MYOB is coming up with $2318.00. Why?
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2 Replies
60,268/26 fortnights = $2,318
Hey LynneMarie,
The reason why it shows $2,318.00 is because salary pays are calculated off the annual figure divided equally across 26 fortnights, so 60,268 ÷ 26 = $2,318.00.
Cheers,
Doreen
