Lump sum O Gratuity

Contributing Partner Roslyn-VW
5 Posts
Contributing Partner
Australia
Contributing Partner

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Lump sum O Gratuity

Hi

I have a redundancy to complete where there is a gratuity payment.  This needs to show as a Lump Sum O on the payment summary.  I cannot see this option on the drop down list for reporting options.  

 

Has this option been missed by MYOB, or is there another code that I need to use to make this work.  

 

Thanks

1 REPLY 1
MYOB Moderator Steven_M
32,267 Posts
MYOB Moderator
New Zealand
MYOB Moderator

32,267Posts

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Re: Lump sum O Gratuity

Hi @Roslyn-VW 

 

Payment Summary information in AccountRight follows the prescribed ATO's format of an individual Payment Summary, which does only list Lump sums categories A, B, D & E  

 

From my understanding, type O Payments are actually Early Termination Payments (ETPs). Help Article: Processing a final pay would be able to assist with that process. When it comes to selecting the ETP Benefit code you would select Benefit Type: Life and Benefit code of O, along with adding in a payment date. For example

Attachment.PNG

 

From a payroll reporting point of view, you would need to select an ETP based ATO reporting category option. When processing an amount against that category you will have an ETP Benefit field appear on the Pay Employee window to add in that ETP information and select that benefit code.

 

 

 

 

Kind regards,
Steven

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