PAYG - Wages

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PAYG - Wages

We have just started using MYOB for wages. We have al the correct tax tables loaded and employee cards are correctly setup. 

I have never experienced this before with regards to PAYG. When calulating the PAYG for the wages it appears to be out by a few cents eg If no PAYG is payable it will show that $0.07is being deducted. 

MYOB wont allow me to override this.

Can you advise how to amended as staff have PAYG incorrect and I would like to fix before June 2020. 

I have attached a screen shot to show what I am meaning.

Capture.JPG
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Re: PAYG - Wages

Hi @Misha70 

 

The 0.07cents PAYG value is coming from the fact that under Setup>>General Payroll Information you have Round Net Pay Down to 00 cents. 

In short, in order to get that 0.00 value, the system will add the residual cents to the PAYG value (as the ATO don't care about cents). So, in your case, the Net Pay is actually $464.07 but it has been set to have that rounded down thus 0.07cents is placed into PAYG making the Net Pay would be $464.00.

Kind regards,
Steven

MYOB Community Support

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

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Re: PAYG - Wages

@Steven_M @Misha70 

 

Steven,

 

I believe the rounding to PAYG - W should be changed.

In this instance, there is no PAYG-W.

 

Duncan

 

Duncan Smith
Business Advice + Tax
Helping business owners build a better business since 1998
E expressgst@optusnet.com.au T 02 9904 3672 7 days

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