Re: Leave Liabilities
Hi. I've read this post with interest as I'm trying to streamline how entitlements are accrued & recorded within MYOB. At present our leave accrual is adjusted quarterly (via journal entry) as per the Entitlement Balance Report & actual leave taken is recorded as an expense to wages. I would like Myob to be able to accrue leave as a dollar value to the leave accrual as well as an hourly value. I can see how I can override the account for leave to the leave accrual instead of wages. I can't see how MYOB does the leave accrual as a dollar value other than manually via a journal entry. Is it possible for MYOB to automatically process this when the Payroll is processed? Or is a journal entry the only way?
Thanks,
Julie
From an AccountRight point of view, when you accrue hours for an entitlement, AccountRight will only accrue the hours associated with that entitlement i.e. it will not automatically accrue the dollar value of that those entitlements.
If that functionality is required, it would need to be done as a manual process through recording a journal entry. Our Help Article: Tracking leave accruals as liabilities would be able to assist with that process, however, it sounds like you have a good grasp of it already.
