Annual leave part-year estimate (NZ)

Highlighted
SophieZhao
1 Post
User

1Posts

0Kudos

0Solutions

Solved: Go to Solution

Annual leave part-year estimate (NZ)

What is annual leave part-year estimate,

How is it calculated

Why it is show on the pay slips by default?

How can i remove that from pay slip?

1 REPLY 1
MYOB Moderator Steven_M
33,027 Posts
MYOB Moderator
New Zealand
MYOB Moderator

33,027Posts

4,413Kudos

4,789Solutions

Accepted Solution Solved

Re: Annual leave part-year estimate (NZ)

Hi @SophieZhao 

 

Annual leave in New Zealand works on off two values; holiday pay and annual leave entitlement hours. When an employee starts their employee they will accrue holiday pay, generally 8% of their gross earnings, for the first 12 months. Once 12 months is up/their annual leave entitlement anniversary date the annual leave entitlement hours are added and the holiday pay is reduced back to zero so it can be accrued again for another 12 months.

 

The "annual leave part-year estimate" value on an employee's payslip is the estimated value of annual leave entitlement that an employee has accrued but is not yet fully entitled to. It is an estimated based on the employee's holiday anniversary date, the number of weeks through the payroll year and the theoretical weekly leave entitlement. This value is intended to showcase the estimated value that the employee could take based without negatively affecting their holiday pay/final pay should they leave. Note: It is an estimated value and as the employee is currently not fully entitled to the value care should be taken should you wish to pay the employee annual leave out.  The "annual leave part-year estimate" value is not able to be removed from an MYOB Essentials payslip.

Kind regards,
Steven

MYOB Community Support

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

Did my answer help?

Mark it as a SolutionHelpful? Leave a to tell others

Didn't find your answer here?

Try using advanced search to find a post more easily Advanced Search
or
Get the conversation started and make a new post Start a Post