Forum Discussion

V_Oliver's avatar
V_Oliver
Experienced Cover User
6 years ago

Deductions in MYOB AccountRight Payroll

I was wondering if there was a way to have the closing balance from the old payroll year for deductions to transfer over to the opening balance for the new payroll year, eg just like the entitlements...
  • IanChait's avatar
    IanChait
    6 years ago

    Hi V_Oliver 

     

    What you are trying to do is not a Payroll function. Why can't they just look up the balance of their account via online banking, or checking with their bank?

     

    One way that may achieve what you are looking for, is to set up a New Entitlement Category called Savings Account. Make it a user entered amounty, and tick the Carry Remaining Entitlements over to New Year box.

     

    When processingh the pay, also enter the $ amount deducted, as a positve figure in the Savings Account line under Entitlements. You will just have to condsider the amount as $'s. See screenshot.

     

IanChait's avatar
IanChait
Ultimate Cover User

Hi V_Oliver 

 

What do you mean by "Savings" ? What exactly are you doing?

 

V_Oliver's avatar
V_Oliver
Experienced Cover User
6 years ago

We have employees that have funds taken out of their weekly pay run as a deduction and put into a savings account.  At the end of the payroll year, the balances in their savings accounts are correct in the liability account but once the payroll is closed for the year, then their balances go back to $0.  The employees would like to know how much they have in their savings accounts as a tally, not just for the payroll year.

  • IanChait's avatar
    IanChait
    Ultimate Cover User
    6 years ago

    Hi V_Oliver 

     

    What you are trying to do is not a Payroll function. Why can't they just look up the balance of their account via online banking, or checking with their bank?

     

    One way that may achieve what you are looking for, is to set up a New Entitlement Category called Savings Account. Make it a user entered amounty, and tick the Carry Remaining Entitlements over to New Year box.

     

    When processingh the pay, also enter the $ amount deducted, as a positve figure in the Savings Account line under Entitlements. You will just have to condsider the amount as $'s. See screenshot.

     

    • V_Oliver's avatar
      V_Oliver
      Experienced Cover User
      6 years ago

      No problems, that's great.  Many thanks for this information.

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