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Annual Leave Accrual not posting to the GL

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Anne2001
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Anne2001

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Annual Leave Accrual not posting to the GL

I've have noticed that the GL shows no reflection of annual leave accrued. There is a GL code for it as part of the setup and the payroll system tracks it. But why does the tracked amount in the payroll system not have any setting to allow it to be posted as an expense monthly and accrued within the balance sheet? Pr, indeed, if it does, how do you set everything up to allow it rather than manually having to post it every month.

 

Since you have to allow for annual leave accruals at year end anyway why nothing to allow it monthly.

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MYOB Moderator Steven_M
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Steven_M
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Re: Annual Leave Accrual not posting to the GL

Hi @Anne2001

 

MYOB Payroll will transfer the dollar values across to the AccountRight. In terms of annual leave accruing as there is no dollar value associated, from a program point of view, with that accrual it will not transfer that accrual across.


For generating that provision of leave you would be looking into manually recording a journal entry for those values. Our Help Article: Tracking leave accruals as liabilities, which goes through the Australian process, could be adapted to New Zealand. Basically, you would need to complete Step 1 and 3 -5, instead of running the Entitlement Balance [Summary] report, I would run the Holiday Accruals report (Reports>>Holiday Accruals) after running the pay.

 

Note: Due to the way New Zealand Holiday Acts works I would recommend speaking to an accountant in regards to that process.

Kind regards,
Steven

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