Hello,
I am employing 3 casual staff and I want to know how do I record their monthly wages, super and PAYG in accounts right.
I am using a seperate payroll software and want to enter off its reports into myob accounting software.
what is the correct recording process, do I use purchases to record super payment and payg payments?
how do the Payg withholding account ( 2-1420) work?
thank you
Hi AussieMarty
Thanks for your post. I'd recommend speaking to your accountant as you'll need to record journal entries to record those amounts in AccountRight.
Generally speaking, PAYG amounts would be allocated to the PAYG Withholding payable liability account. Super would be allocated to the Super expense account and Super payable liability account.
You could then record Spend Money transactions when making super and PAYG payments, allocating the payment amounts to the Super payable liability account and PAYG Withholding payable liability account.
As mentioned, it is best to speak to your accountant to ensure the amounts are reported correctly in your software.
Please let me know if you need further help.
If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.
Hello Tracie,
thank you for the reply. I am stuck and I cannot work our how to post the entries, would you be able to send screen shots for this example empoyee?:
Bob
net pay $900
payg $200
Super $100
thank you
Martin
Hi AussieMarty
I'd recommend checking with your accountant about the applicable transactions so that this is recorded correctly for your situation.
