Fortnightly pay and monthly IRD employer schedules with COVID-19

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Fortnightly pay and monthly IRD employer schedules with COVID-19

I;m sure this has a solution, but i cant find it anywhere and cant get through on the phone.  We normaly pay staff on salary twice a month, and this works well with the emplyer monthly schedule IR 348 that we file.  We need to switch to fortnighly payments to account for the COVID-19 NZ subsidy.that we will be passing on to ur staff.  If we pay fortnighly, how does the MYOB software accound for the fact that only 4 weeks out of the month will be included in the IR348?  There will be days not yet paid to staff ?  

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Re: Fortnightly pay and monthly IRD employer schedules with COVID-19

Hi @Amanda15 

 

IRD reporting and payday filing is based on the payment date of the transactions. So if you are making payment to the employee in March then the pay falls on the IRD reports within March, if it falls in April then it does need to be reported in April. The pay period doesn't factor into the equation, only the payment date is factored into it and thus when it will be reported.

Kind regards,
Steven

MYOB Community Support

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Re: Fortnightly pay and monthly IRD employer schedules with COVID-19

Thankyou!!

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