Forum Discussion

RhondaMB's avatar
RhondaMB
Contributing User
1 year ago

Cashing out Long Service Leave

Hi everyone,   Just looking for advice for an employee who is not leaving the company, but has chosen to receive his 8 weeks of LSL as a cash payment.  I  I assume this will be an unscheduled pay b...
Princess_R's avatar
Princess_R
MYOB Moderator
1 year ago

Hi RhondaMB,

 

I understand you're seeking advice on setting up payments for cashing out Long Service Leave (LSL). Cashing out LSL is pretty similar to cashing out annual leave. Just create a specific pay item for LSL cash payments and link it to the right entitlement. Make sure to exempt this pay item from accruing other entitlements. Also, consulting with your financial advisor would be a wise step to ensure everything is set up correctly.

 

Feel free to get in touch if there's anything else I can assist you with.

 

Cheers,

Princess

  • RhondaMB's avatar
    RhondaMB
    Contributing User
    1 year ago

    Thanks for your reply. I will follow up with my book-keeper.

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