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Pentroth's avatar
Pentroth
Experienced Cover User
11 months ago

ETP Termination - ETP Tax Component not showing on the YTD verification report

Hi

I am hoping you can help me.  I have 3 employee's that were terminated on 12/7/2023 Pay cycle 3/7/2023-9/7/2023 (2 of them are on a different files but same issue).

 

They all were ETP terminations.  The ETP tax withholding is showing up on YTD verification report and also there individual Summary of Payments but the ETP taxable component is not showing up on the report therefore the reports are not balancing - see attached files.

 

Im not sure how to fix this for the ETP taxable component to show.  I have reversed the payment and re done the payslip but this did not fix the issue.  I have also checked the pay category's. 

 

In August 2023 I completed another ETP termination and this one balances with the ETP Taxable component and ETP Tax withholding showing on the YTD report and there individual summary, so not sure why the others are not showing correctly.

 

Hoping you can help me.

 

I have attached the YTD and Payment Summary for one of the entities 

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  • Earl_HD's avatar
    Earl_HD
    MYOB Moderator
    10 months ago

    Hi Pentroth, 

    Thank you for your post. I'm sorry to hear you're experiencing this issue with ETP terminations. Your patience and understanding about this issue are greatly appreciated, and I do apologize for the delayed response.

     

    Thanks for providing the screenshot and detailed information. To resolve the problem and ensure the ETP taxable component shows correctly on the YTD report and Payment Summary, please follow these steps:

     


    Ensure ETP Pay Categories: Double-check that the pay categories for ETP taxable components are set up correctly. In MYOB AccountRight, you should have specific pay categories for ETP Taxable Component and ETP Tax Withholding. Verify that these pay categories are assigned correctly to the terminated employees in their respective pay runs.

     

     

    Tax Tables: Confirm that your MYOB AccountRight has the latest tax tables installed. Sometimes discrepancies can occur if the tax tables are outdated. You can usually update tax tables through the MYOB software.

     

    Taxation Reporting Center (TRC): Make sure your MYOB AccountRight Taxation Reporting Center is set up correctly for the specific ETP types. You can access this from the Payroll menu. Ensure that all necessary ETP types are correctly configured.

     

    Payroll Categories: Check if your ETP pay categories have been set up to report to the Taxation Reporting Center. If not, you may need to modify the pay category settings.

     

    Verify Data: After making any changes, run the Verify Data function to check for any data discrepancies or errors. This can help identify and resolve issues in the database.

     

    Payroll Year-to-Date (YTD) Reports: Once you've reviewed and adjusted the settings as needed, regenerate the YTD reports and Payment Summaries to ensure they reflect the correct ETP taxable components.

     

    By following these steps and ensuring the correct setup and configuration of ETP pay categories, you should be able to resolve the issue and have accurate YTD reports and Payment Summaries for terminated employees.

     

    Please do let me know how you go on this.
    Regards,
    Earl