Final pay - 2 pay runs in one pay period
We run a monthly payroll, paying employees on 12th of the month for the full calendar month.
We are making some employees redundant and wanting to pay redundancy and final leave balance at end of t...
Forum Discussion
Sorry i also have another question.
We have a mix pay run weekly + once a month salaried staff.
weekly is not a problem but with salaried staff sometimes i have to make a oneoff payment for overtime but the tax calculated comes out short ( i do not want the employee to get hit with an IRD bill at the end of the year) to get around it i have stated accumulating the overtime hours and plug them in with the monthly salary. Is there a way to get the payroll package to look at the YTD earnings and apply tax accordingly?
Your help is appreciated
Hi homi,
That’s a really good question. MYOB will automatically work out the PAYE on overtime as long as you’re using an overtime pay item, even if it’s just a one‑off payment. It follows the IRD rules for PAYE based on the employee’s tax code and earnings, so you don’t need to manually check year‑to‑date figures to get the right calculation.
For how you should handle these overtime payments and PAYE in your reports for your specific setup, it’s still best to have a quick chat with your accountant or financial advisor so they can give you advice that suits your business.
Cheers,
Princess
Thank you , will give it a try again.
