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Hi, I have just set up a new payroll category Paid Parental Leave, but the $dollar amount automatically goes to Base Salary.
Is there a way it can automatically go to the new category, so I dont have to edit their payslip each week for the next 4 months?
Solved! Go to Solution.
I suggest having a look at this support note: Paid parental leave
What you're looking for is answered on Step 5. This is where we clear the Standard Pay of that Employee so that when you next process their wages it does exactly what you're looking for.
It includes steps on what to do when they return to work also.
Let us know if you have any questions.
Thanks Hayden, perfect!!
On the Paid Parental leave link you recommended to look at- I couldn't understand why we need to create a income account for this. Could you please kindly clarify???
Many thanks in advance.
I suggest having a look at the final point on that support note. Basically it's set up as an "Other Income" account to help balance your Liability accounts where needed. As a place to do a final corrective journal at End of Year either by the business or Accounting Advisor.
I'd like to quickly mention that the support note is designed to fit the majority of situations and you are able to tweak aspects of the flow to suit your business as needed, so long as your pays are sending correctly and your accounts will balance as a result by EOY this should be fine. It's also suggested to reach out to the Accounting Advisor if unsure on the current circumstances.
Hope this helps answer the question, feel free to let me know if you have any other questions on the matter.
Many thanks for your reply. Much apprecaited.
I checked the final step and do understand that income is created to balance the liability account but why with income. As this is not the real income business is making. This is what confuses me. Surely, I will check with our tax accountant and seek advise on this.
Have a nice day ahead.