Payroll cycle
A company will change ownership on 31. December and the agreement is that all income and expenses up to that date are covered by the original owners and any income and expenses in 2025 accrue to the ...
Forum Discussion
Hi Doreen, I played with this earlier today to see how MYOB would handle this but this caused the tax being calculated incorrectly. I made three pretend pays for
- normal payrun
- split payrun A for 7 days and
- split payrun B for 3 days
For this to work, the tax withheld for the combined split payruns should be the same as for the usual payrun but this is not the case. I suppose this is due to the fact that forthnightly pays have a certain tax rate/ratio applied and if you change this to 7 days / 3 days and pay in two installments, things are not running as expected. Total tax withheld is short.
