Additional Pay Cycle
In 2025-26 we will have 27 pay fortnights. Is there any way of setting that up to automatically calculate in MYOB? If not does anyone have a simple calculator tool they use to ensure everyone pays th...
Forum Discussion
Hi WyomingCC,
MYOB calculates taxes based on what your employees earn, not the number of pay cycles in the year. It takes care of everything automatically, as long as your file is up-to-date and has the correct tax tables. Whether it’s 26 or 27 pay cycle in a year, the system’s got it covered, it’s always ready to handle taxes like a pro.
Cheers,
Princess
I don't think that is the case - unless something has changed.
We pay fortnightly and MYOB Calculates the PAYG on the gross pay x 26 to give the estimated annual income then divides by 26 to determine the PAYG for that fortnight.
If there are 27 pay cycles in the year the annual earnings will be greater and therefore the tax has to be adjusted accordingly.
If this is not the case please show me the information in the MYOB guide where this is calculated because there is no where in MYOB where I put in how many pay cycles there are.
