Re: Leave Liabilities

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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

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Re: Leave Liabilities

Hi @JB_Incredable 

 

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.

Kind regards,
Steven

MYOB Community Support

Online Help| Forum Search| my.MYOB| Download Page

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Re: Leave Liabilities

Thanks for your reply Steven. I guessed as much. Just needed confirmation before going forward. I'm grateful we only have a workforce of 20. Imagine a workforce of 200+!! I would like to see MYOB include this functionality to eliminate manual processing. I'll find out how I can lodge this as feedback re improvement. Thanks once again.

 

Kind regards,

Julie

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Re: Leave Liabilities

@JB_Incredable 

 

Welcome to the MYOB Community Forum, I hope you find plenty of useful information.

 

If you would like this as an option I would suggest posting this as a suggestion on the AccountRight Idea Exchange. You can do this by going to: Browse Community > AccountRight > AccountRight Idea Exchange > Submit an Idea.

 

If my response to your query and has helped, please mark my post as a solution to help others in the future.
Graeme Day
Registered BAS Agent #24745540
Gralord Enterprises Pty Ltd
Mobile: 0402 841 627
graemeday@optusnet.com.au
MYOB Certified Consultant
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Re: Leave Liabilities

Thank you GDay53. I've already done that!! Fingers crossed!

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