Pay Wages using the Pay Wages function

Pay Wages functionality is used to generate payroll entries. It is not a fully-functional payroll system, but you can use it to generate employee payment entries common to insolvent entities.

 

In July 2018 Single Touch Payroll (STP) was introduced for employers with 20 or more employees and included employers with 19 or less employees from July 2019. You will report payments such as salaries and wages, pay as you go (PAYG) withholding and super information to the ATO when you pay your employees. You may not need to provide your employees with Pay Slips and/or Payment Summaries.

For more information using STP in MYOB Insolvency please review the articles on our zendesk.

https://exalt.zendesk.com/hc/en-us/articles/360000191876-Single-Touch-Payroll-v5-1

 

Completing the Pay Wages form

For information on completing the Pay wages from please refer to the article Completing the Pay Wages Form

 

Entering Deductions and other Income

Single Touch Payroll STP Deductions

Paying Wages Workplace giving

Here are some specific considerations for entering deductions.

The Pay Wages screen allows you to:

  • Deduct Child Support payments from an employee’s wages
  • Make deductions, for example Social Club
  • Make reimbursements of expenses.
  • Pay Mileage claims

 

Child Support Payments

For information on processing Child Support Payment please refer to the article Recording Child Support Payments

 

Salary Sacrifice

For information on processing Salary Sacrifice please refer to the article How to enter wages entries having a salary sacrifice component

 

Paying Allowances

Single Touch Payroll STP Allowances Pre V2020.10

Single Touch Payroll STP Allowances Post V2020.10

 

Payroll Deductions

Single Touch Payroll STP Deductions

For information on processing Payroll Deductions please refer to the article Pay Wages - Deductions

 

Payroll Reimbursements

For information on processing Payroll Reimbursements please refer to the article Pay Wages - Payroll Expense Reimbursements

 JobKeeper

For information on processing JobKeeper please refer to the article How to make JobKeeper payments

 Fringe Benefits Tax

For information on processing Fringe Benefits tax please refer to the article Paying Wages Recording Fringe Benefits Tax to report on STP FBT v5 1

 

Annual Leave Accruals (Trading)

Please refer to the article How do you process Annual Leave taken or accrued during the trading period for information on processing annual leave taken or accrued during the trading period.

Annual Leave Accrual Report

This payroll report calculates the accrued leave trading liabilities.

From Reports and forms click on Payroll Reports-> Employee Leave Accrual.

 

Payslips

For information on generating payslips please refer to the article Generate Employee payslips

 

Importing Wages

Information on importing wages transactions can be found in the below article

Importing Transactions including wages transactions

 

STP Report

As from v2020.03 the Employee STP Payment Summary Listing report can now be run from within an employee wages batch.  When run from that location, the report will only report on payments within the batch.

How wages Report on F5602/5603

As from v2020.03 when wages are paid to employees, each payment transaction will now report in the receipts and payments detail listing (eg F5602 Detailed R&P) as the net amount paid to the employee rather than the previous situation where the gross wages were reported as a payment with the withholding amounts reporting as a negative payment.  This change was made so that wages payments report consistently with employee dividend payments.  This change will only apply to new payments entered after the version is upgraded.  

As you can see from the below example Payment pre v2020.03 reports each line item of the payment. Post v2020.03 reports the net value of the payment.

mceclip0.png

mceclip1.png

There is also the ability to flag an existing payment as an employee wages payment on the advanced toolbar of the payment screen if required so the payment reports the net value. Unticking this option on Post v2020.03 wages transactions will allow each line item to be reported. NB This change must be done on each transaction.

mceclip2.png

Have more questions? Submit a request

0 Comments

Please sign in to leave a comment.
Powered by Zendesk