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Nancy15's avatar
Nancy15
Contributing User
8 months ago
Solved

Hourly LSL setup

Hi we have an employee who we have had to terminate (NSW) she has been at the company for just under 7 yrs. We have to pay out her long service leave and it was never setup how/or what do I enter in ...
  • ChrisMc's avatar
    ChrisMc
    8 months ago

    Hi Nancy
    An annual leave entitlement is % accrual is 7.6923% is based in 20 days a year annual leave
    20 x 7.6 (1 day hours) - 152 x (38 x 52) 1976 = 7.6923%

    therefore, for NSW 8.67 weeks up to 10 years 
    ... 8.6667 x 38 = 329.3346 (hours
    ....10 years = 10 x 38 x 52 = 19760

    329.3346 / 19760 = 0.01667 %

    this is an estimate of accrual.
    if you pay out long service leave recommend using the LSL calculator for NSW which will outline the LSL in weeks. 

    Hope this is helpful

ChrisMc's avatar
ChrisMc
MYOB Staff
8 months ago

HI Nancy
We recommend seeking advice from an advisor, as Long Service Leave (LSL) legislation varies by state particularly when it comes to changes in pay rates. If you're in New South Wales, the government provides a helpful Long Service Leave Calculator to estimate the number of weeks payable.
Long Service Leave Calculator tool | NSW Government
In MYOB, you can also use the termination process to guide you through paying out unused LSL.

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