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New Zealand Payroll
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Death of Employee
Unfortunatly, one of our employees died suddenly. He is owed a sizable amount of Annual Leave and LSL. I believe I cannot pay this out until after probate on his estate, is this correct? Also, are the payments made to his estate tax free? And also, I cannot terminate his employment without wiping all of his entitlements?? Any help on this would be most appreciated.How do I match my payroll transactions?
How you match your payroll transactions depends on how you pay your employees. If you pay employees... Here are the details Electronically (using a bank file or direct payment from MYOB) To match these payroll transactions, you'll need a bank feed set up on the business bank account your electronic payments are paid from. Employees paid this way will need their Payment method set to Electronic. When you process the electronic payment in MYOB: choose the business bank account your electronic payments are paid from a single electronic payment transaction is created in MYOB (containing all the pays of the employees being paid electronically) the funds will be withdrawn from your bank account as a single transaction, and these transactions will match in your bank feeds. using cash To match these payroll transactions, you'll need a bank feed set up on the business bank account your cash wage payments are paid from. Employees paid this way will need their Payment method set to Cash. When you process a pay run that includes employees with a payment method of Cash: the employees' pay amounts are posted to your linked account for cash payments (what are linked accounts?) you'll withdraw a single amount from your bank account for cash wage payments these transactions will match in your bank feed via EFT (by manually transferring funds using internet banking) This requires a bit of work on your behalf, and relies on you entering the correct bank details and amounts into your online banking. We suggest using electronic payments in MYOB to speed things up, reduce the possibility of errors, and to simplify bank feed matching. To match these payroll transactions, you'll need a bank feed set up on the business bank account the EFT wage payments are paid from. Employees paid this way will need their Payment method set to Cash. When you process a pay run that includes employees with a payment method of Cash: the employees' pay amounts are posted to your linked account for cash payments (what are linked accounts?) you'll manually process the EFT payments into your employee's bank accounts using your online banking these transactions will match in your bank feed using cheques To match these payroll transactions, you'll need a bank feed set up on the business bank account your cheque wage payments are paid from. Employees paid this way will need their Payment method set to Cheque. When you process a pay run that includes employees with a payment method of Cheque: the employees' pay cheque amounts are posted to your linked account for cheque payments (what are linked accounts?) when an employee deposits their pay cheque into their bank account (and the cheque clears), the cheque amount will be withdrawn from your cheque account these transactions will match in your bank feed
Payroll tax code for a higher education loan program
Hi there, We have a new employee who has a higher education loan program. I try to select the tax code with "HELP" but there is not in the tax table description list. How can select the correct one for it. I see there are some with " STSL" and not sure what these means. Could you please someone help me for solve this issue? Thank you very much. SherryJury Duty - processing the refund
Hi - I have a staff member who I paid for Jury Duty. This has now been refunded in full by the court (Western Australia) and I need to know how to process the refund in MYOB. I set up a separate wage category (Jury Duty payment) when I processed the Jury Payment to the employee in payroll. How do I record the refund? Thanks Kate
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