I've had a query from an Accountant client of mine with regards to Salary Sacrifice being incorrectly reported as "Gross Wages". Now I think it's arguable from both angles but I guess maybe there needs to be an option for which payroll categories to include (or deduct) for the Gross Wages column on say the Payroll Activity Summary report?
The issue is, the accountant wants to be able to look at said report and cross check the total figure to the wages account on the P&L and to the total of the PAYG Payment summaries, which in this case were lodged incorrectly as the client had not ticked the box to include salary sacrifice superannuation as being part of the Gross Wages on the payment summary. Her defense was, "Well it matched the report".
Hi Matthew/Jace,
Here is the link below - I posted it just after midnight, so the date was actually 08/12/12!
Here is a copy of my post:
I find the payroll reports in MYOB don't make reconciliations as easy as what they could be i.e. all deductions/expenses are just lumped in together. My suggestion would be to use the report columns as follows:
(I believe there is work being done in this area - feel free to enlighten me about it if you know)
Gross Wages | Salary Sacrificed Super | Other Pre-Tax Deductions | Post Tax Deductions | Tax* | Net Pay | Superannuation Expenses | Other Expenses |
* I wonder if MYOB can have an ETP process whereby the ETP tax actually shows under tax as opposed to a deduction (which can be overlooked by a client when preparing their BAS).
Any updates/feedback welcome.
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