how to pay 8% holiday pay
We have a closedown at Christmas from Monday 23 December starting back Monday 13 January 2025.
Some staff have not worked a year (only a few months) and I need to pay out the 8% holiday pay.
MYOB payroll does not have a default to pay the 8% without termination.
Can someone help with this - how do you process the gross amount so that it reduces the holiday pay.
or do you have to do all of this manually?
Also if you pay out the leave in full and they have no leave left as they are off on holiday what are the rules to move the start date if they are coming back to work on the 13 Jan.
Hi mdonovan
There are two true ways to remove transactions from the Prepare Electronic Payments window:- Process the transaction i.e. tick the transaction and select Bank file. You'll need to have a supplier added to that transaction and the relevant banking information for that supplier. This would impact the bank account that the electronic payment transaction was recorded against. Although, once recorded you could record a journal entry to clear that impact on the bank account.
- Reverse out or delete the transaction: this involves opening the transaction and selecting Edit>>Delete (or Reverse) transaction. Deleting may not be possible if the transaction is recorded in a previous financial year. Reversing out the transaction would generate a negative transaction in the Prepare Electronic Payments window which can be ticked and offset against the original transaction to record a 0.00 (or Void) transaction to the bank account. A supplier and their details would need to be entered to complete that process.
In saying that, there is another process that can be used to clear out that Prepare Electronic Payments window and I've listed it below for you.
- Navigate to Accounts>>Accounts list.
- Select New.
- Give the account a number, name and set the account type to be Bank.
- Once that account has been created, navigate to Setup>>Linked Accounts>>Accounts & Banking.
- Update the Bank Account for Electronic Payments to be that newly created account.
After completing the above steps, the Prepare Electronic Payments window would be cleared.
The above process does work as the system will look at all transactions in the electronic clearing account to see if they have been paid. As the new account would have no transactions in it the window would be blank.- Process the transaction i.e. tick the transaction and select Bank file. You'll need to have a supplier added to that transaction and the relevant banking information for that supplier. This would impact the bank account that the electronic payment transaction was recorded against. Although, once recorded you could record a journal entry to clear that impact on the bank account.