Incorrect value for gross earnings
I have a final pay at 30/06/2022 and therefore a calculation of the value of annual leave to process for 7 employees. This requires two steps. 1) Leave entitlement in hours is paid at the higher of ordinary weekly pay or average weekly earnings. and, 2) Eight % of the gross earnings since the most recent increment of the leave entitlement was recognised on the employees anniversary date. We are on a monthly pay run. I have an anniversary date of 3/08/2021 and a termination date of 30/06/2022. I calculate the gross "earnings prior to current pay run" as as 49,583.20 the sum of the monthly pays (4,583.33 4,583.33 4,583.33 4,583.33 5,208.31 5,208.28 5,208.33 5,208.33 5,208.30 5,208.33) from 31/08/2021 to 31/05/2021. Add June pay 5208.30 we get 54,791.53 which is multiplied by 8%. MYOB Essential payroll gives me 44,374.87 "earnings prior to current pay run" which is the pays from 31/08/2021 to 30/04/2022. So that value is too low by one month's gross pay which I assume is the 31 May 2022 pay of 5,208.33. 44,374.87 and add current month June pay 5,208.33 equals 49,583.20 which is multiplied by 8%. Which calculation is correct? And why? Thanks you!856Views0likes1Comment