Deductions in MYOB AccountRight Payroll

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Trusted Cover User V_Oliver
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V_Oliver
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Deductions in MYOB AccountRight Payroll

I was wondering if there was a way to have the closing balance from the old payroll year for deductions to transfer over to the opening balance for the new payroll year, eg just like the entitlements do?

 

An example would be:

  • Savings for an employee - at this stage it just shows the amount per pay period as well as an amount for the year to date on their pay slip.  I would like to see the total that they have in savings from all previous years combined.

Looking forward to hearing back from you re this.

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Ultimate Partner IanChait
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IanChait
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Re: Deductions in MYOB AccountRight Payroll

Hi @V_Oliver 

 

What do you mean by "Savings" ? What exactly are you doing?

 


Regards
Ian Chait CA
Certified Consultant Melbourne
P/M 0417 479 585
Email ian@myfc.com.au

Trusted Cover User V_Oliver
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Re: Deductions in MYOB AccountRight Payroll

We have employees that have funds taken out of their weekly pay run as a deduction and put into a savings account.  At the end of the payroll year, the balances in their savings accounts are correct in the liability account but once the payroll is closed for the year, then their balances go back to $0.  The employees would like to know how much they have in their savings accounts as a tally, not just for the payroll year.

Ultimate Partner IanChait
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IanChait
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Re: Deductions in MYOB AccountRight Payroll

Hi @V_Oliver 

 

What you are trying to do is not a Payroll function. Why can't they just look up the balance of their account via online banking, or checking with their bank?

 

One way that may achieve what you are looking for, is to set up a New Entitlement Category called Savings Account. Make it a user entered amounty, and tick the Carry Remaining Entitlements over to New Year box.

 

When processingh the pay, also enter the $ amount deducted, as a positve figure in the Savings Account line under Entitlements. You will just have to condsider the amount as $'s. See screenshot.

 


Regards
Ian Chait CA
Certified Consultant Melbourne
P/M 0417 479 585
Email ian@myfc.com.au

Pay.JPG
Balance.JPG
Trusted Cover User V_Oliver
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V_Oliver
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Accepted Solution Solved

Re: Deductions in MYOB AccountRight Payroll

No problems, that's great.  Many thanks for this information.

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