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PAYE details on dashboard

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Contributing User AllenR
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AllenR
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PAYE details on dashboard

I am all up to date with IRD Employer deductions, however in the Payroll section of the Essentials dashboard it is showing a negative value for PAYE withholdings payable and an amount due for Kiwisaver Payable. How do I find where this information is drawing from so I can find the error, as transactions appear to be coded correctly at an account level. Many thanks

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TylerC
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TylerC
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Re: PAYE details on dashboard

Hi @AllenR,

 

The information for this gets pulled from the accounts themselves. Is it possible you would have paid the PAYE withholdings payable and the Kiwisaver payable at the same time and only selected one account when you did the transaction in essentials? What I have seen people do in the past is either find the original transaction and add the kiwisaver payable onto this, moving the amount off PAYE withholdings or doing a journal entry to move the amounts between the accounts.

 

Hope this helps,

Tyler

Contributing User AllenR
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AllenR
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Re: PAYE details on dashboard

Hi Tyler

 

Thanks for your reply. I have checked all the transactions and they are allocated correctly. MYOB advises to allocate as follows:

·        Select the KiwiSaver Payable account and enter any applicable KiwiSaver amount (both employee and employer less ESCT) you are forwarding to the IRD. 

·         Select the PAYE Withholdings payable account and enter any applicable PAYE, child support, student loan, and ESCT amounts you are forwarding to the IRD.

However, when I look at how the transactions have been applied in the General Ledger, ESCT is actually being automatically debited from the Kiwisaver Expense account and then, as per the above, credited to PAYE withholdings payable. Also the Employee Kiwisaver contribution is being debited from Wages and Salaries and credited to Kiwisaver payable. So this will be why the amounts due on my dashboard do not balance. Any suggestions on how to correct this?

 

Many thanks

 

MYOB Moderator Steven_M
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Steven_M
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Re: PAYE details on dashboard

Hi @AllenR 

 

As has been mentioned, the PAYE (& KiwiSaver) value that is listed on the Dashboard is pulled from the account balance of the accounts - PAYE Withholdings (& KiwiSaver payable). If you are expecting a different value for those accounts I would be running the General Ledger Detailed report for those accounts, you would then be able to investigate the balance of that account versus the transactions that have been recorded.

 

In terms of the transaction you have described, what I would expect to see with a payroll transaction is the Employer KiwiSaver being fully debited to the KiwiSaver Expense account with two amounts going to the KiwiSaver Payable account (both credits). The two amounts would be the employee and employer contribution (less ESCT). The ESCT value gets added to the PAYE Withholdings payable account. In terms of clearing that you would generally a debit to the PAYE Withholding payable account (for the PAYE amount + ESCT) and also one to the KiwiSaver Payable account (for the employee and employer KiwiSaver amounts). 

Kind regards,
Steven

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