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Cashing out Annual Leave or LSL

Contributing Cover User deb_bookkeeper
10 Posts
Contributing Cover User
Australia
deb_bookkeeper
Contributing Cover User

10Posts

0Kudos

0Solutions

Cashing out Annual Leave or LSL

Hi

Can someone help with the practicalities in MYOB when cashing out holiday leave or LSL?

My main question is - does annual leave, sick leave and long service leave accrual apply to the above payments and if they dont how is this set up in MYOB?

Thanks

Debbie

1 REPLY
MYOB Moderator Steven_M
23,611 Posts
MYOB Moderator
New Zealand
Steven_M
MYOB Moderator

23611Posts

2668Kudos

3382Solutions

Re: Cashing out Annual Leave or LSL

Hi @deb_bookkeeper

 

I would recommend speaking to Fair Work Australia or a similar advisory body in regards to what entitlement hours should be calculated on.

 

In terms of AccountRight, if you go to Payroll>>>Payroll Categories>>Entitlements and select the entitlement you can see the calculation basis. This will determine what is included in the entitlement calculation

  • If the calculation basis is set to be Equals x percentage of a particular category i.e. Base Hourly. Anything paid through that wage category will not be included in the calculation - if it does need to include another wage category select Gross Hours (and see next point).
  • If the calculation basis is set to be Equals x percentage of Gross Hours. The exempt button will be able to be selected on screen. Anything ticked in this window will NOT be included in the calculation. For example, you are needing to not calculate annual leave when paying out Overtime you would tick the overtime category in the exempt 
  • If the calculation basis is set to be Equals x hours per pay period. The employee will accrue x hours per pay regardless of how much and what is paid.

Kind Regards,
Steven
MYOB Client Support
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