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FRESH10's avatar
FRESH10
2 years ago

New Pay Rate

After updating financial year wage increase for staff the hourly rate is rounding down from whole dollar figure to example $30.01234 when it should be $31.00. Where do we adjust this to continue as ...
Sean_DC's avatar
Sean_DC
Former Staff
2 years ago

Hi FRESH10 

 

Thank you for your post. May I extend a warm welcome to the MYOB Community Forum.

 

To round down the cents in your employees' net pays:

 

  1. Go to the Setup menu and choose General Payroll Information.
  2. In the Round Net Pay Down to a Multiple of field, type the number of cents to round your employees' net pays.

For example, to round pays down to the nearest 5 cents, type 5. If you don't want to round pays, type 0.


Note that rounding is done by increasing the amount of tax deducted by the rounding cents.

 

 

Please feel free to post again. I'm happy to assist further.

 

If my response has answered your enquiry please click "Accept as Solution" to assist other users in finding this information.

 

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