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cash up annual leave

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Contributing User buzzie2005
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buzzie2005
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cash up annual leave

We have had our books back from the accountant and our paye is way out. One problem was that we did not use the Annual Leave paid out code when we cashed up a weeks annual leave. I cannot find this code anywhere in Essentials. I did an extra pay for the week and did it as annual leave.

How do we record when we cash up a weeks annual leave? Can't have this happen again.

 

I have done a dummy pay on IRD website for us both which comes out at what MYOB has and we get paid the same every week without any bonuses paid and we are on the right PAYE codes but we both had to pay a lot of tax according to our accountant. 

The figures from IRD matches our MYOB figures but the PAYE is short.  Any suggestions where to look as we are not happy at having to pay our more PAYE.

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Ultimate Partner jenniek
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New Zealand
jenniek
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Re: cash up annual leave

Hi @buzzie2005

When you pay annual leave - there is an option at the top (a tick box) which says "this leave is being paid in advance" - this is the cash out code - not worded very well at all - but will treat the annual leave being paid as a cash out and tax it accordingly.

Regards,
Jennie Kingma
JK Business Systems Ltd, Hamilton, NZ
Email: jennie@jkbusiness.co.nz
Trusted User harper23
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New Zealand
harper23
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Re: cash up annual leave

Now that is a very handy thing to know. I havn't used that tick either for annual leave week cash up. didn't know what it was for.

Contributing User buzzie2005
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New Zealand
buzzie2005
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Re: cash up annual leave

Thanks, didn't know about this button, wouldn't consider annual leave due as leave taken in advance at all. 

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