Forum Discussion

JB_Incredable's avatar
JB_Incredable
Experienced Cover User
6 years ago
Solved

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

  • Steven_M's avatar
    Steven_M
    6 years ago

    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.

4 Replies

Sort By
Replies have been turned off for this discussion
  • Steven_M's avatar
    Steven_M
    Former Staff
    6 years ago

    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.

    • JB_Incredable's avatar
      JB_Incredable
      Experienced Cover User
      6 years ago

      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

      • GDay53's avatar
        GDay53
        Ultimate Partner
        6 years ago

        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.