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I have a client who pays their staff twice a month. Currently they process a monthly pay in Essentials but physically pays it in two hits. They use a payroll clearing account and a journal to handle the bank rec transactions.
My question is this - with compulsory payday filing just around the corner, my client will be obliged to file information about the two payments separately. Is MYOB planning to add a twice-monthly (or should we call it half-monthly) pay frequency, or will my client need to move to other payroll software so as to remain fully compliant?
Solved! Go to Solution.
To my knowledge, we don't have any immediate plans to introduce a half monthly/semi-monthly pay frequency to MYOB Essentials (NZ) in the coming future. Currently, the pay frequencies that can be used in MYOB Essentials are Weekly, Fortnightly, Four weekly or Monthly.
So you think I should suggest changing payroll software?
As mentioned, MYOB Essentials currently doesn't offer half-monthly frequencies due to its simple nature.
If you are looking for a payroll product that does offer that; Ace Payroll, IMS and PayGobal do all offer half monthly/Bi-monthly payroll frequencies.