Soon your employees’ pay items (earnings and deductions) will be created and assigned in a whole new way. Here are the 2 things you can do to get ready.
What you need to do before the update 1, Review your saved pay runs Have any saved unfinished pay runs you still need complete? Do it soon, because when we update MYOB Essentials in a few weeks you’ll lose all saved unfinished pay runs. This is because the earnings and deductions used in those pay runs will no longer be compatible after the update.
2. Review your earnings and deductions Along with updating MYOB Essentials, we’ll be bringing across your existing earnings and deductions so you don’t lose any of your hard work.
However, because every unique pay item needs a unique name, we may need to rename some of your earnings or deductions. Don’t worry, we’ll make sure to name it something easy to identify!
Still, now’s a good time to review your employees’ earnings and deductions to avoid any confusion later on.
Tip: Use the same name for identical earnings or deductions. For example, if you assigned two employees a $20 meal allowance, make sure the allowances have the same name (e.g. meal allowance 20). That way, when your pay items are brought across, we’ll combine it into one $20 meal allowance so you don’t have any double-ups.
Got it. So what’ll be different about pay items after the update? In MYOB Essentials, pay items (earnings and deductions) have always been tied to individual employees. This didn’t offer much in the way of ease or flexibility to businesses that had to replicate the same pay items across multiple employees.
Coming soon, each pay item you create will be saved to a business-wide pay items list. Want to apply the same weekend rate to every employee? Create it once and it’s saved to your pay items list, ready to be assigned to the rest of your employees.
We’ll also be adding a new page where you can view and edit every earning and deduction in your business. Overall, these changes mean less busy work setting up your pay runs, and more time spent doing what you love. Watch this space!