Forum Discussion

LynneMarie's avatar
LynneMarie
Member
4 months ago

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?

2 Replies

  • Doreen_P's avatar
    Doreen_P
    MYOB Moderator
    4 months ago

    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

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