Advanced Payroll Managing Leave. Webinar
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1 Advanced Payroll Managing Leave Webinar
2 INTRODUCTION
3 INTRODUCTION Webinar manual Specific learning objectives Cover new concepts using PowerPoint and MYOB AccountRight demonstrations Questions are encouraged!
4 Learning Objectives
5 LEARNING OBJECTIVES Understanding entitlements Handling Time in Lieu (TIL) Handling Rostered Days Off (RDOs) Handling Long Service Leave Showing Leave Accruals as Liabilities Handling Annual Leave Loading
6 UNDERSTANDING ENTITLEMENTS Overview
7 What is an entitlement? Entitlements are leave types that an employee accrues to take Leave is accrued in hours Common leave types are Annual & Personal Page 3
8 ENTITLEMENTS OVERVIEW Page 4
9 SETTING UP LEAVE - HOURLY Page 6
10 CALCULATING HOURLY ENTITLEMENTS Formula for calculating leave as a percentage Leave Entitlement Total hours of leave per year Total hours worked per year 100 Formula for calculating leave as a percentage Leave Entitlement 20 days x 7.6 hours = weeks x 38 hours = % Page 5
11 SETTING UP LEAVE - SALARY Page 6
12 CALCULATING SALARY ENTITLEMENTS Calculating leave for a Salaried Employee Leave Entitlement Days leave per year # hours in a Work Day Calculating leave for a Salaried Employee Leave Entitlement 20 days 7.6 hours 152 hours Page 6
13 HANDLING TIME IN LIEU
14 SETTING UP TIME IN LIEU (TIL) Hourly wage category TIL Earned Hourly wage category TIL Taken Entitlement category TIL Accrual Page 7
15 Demonstration Handling Time in Lieu
16 TIME IN LIEU SUMMARY Setup a Wage category for TIL - Earned Remember to setup as an hourly category, using a Fixed Hourly Rate of $0.00 Setup a Wage category for TIL - Taken Remember to select Automatically Adjust Base Hourly or Base Salary Details Setup an Entitlement category to track TIL - Accrual Calculation Basis must be set to Equals 100% of TIL Earned Remember the Linked Wages Category should be set to TIL - Taken
17 HANDLING ROSTERED DAYS OFF
18 SETTING UP ROSTERED DAYS OFF (RDOS) Hourly wage category RDO Taken Entitlement category RDO Accrual Page 12
19 RDO FORMULA - HOURLY Formula for calculating RDO percentage RDO (Hrs in working day / Freq. of RDOs) Hrs in working week 100 Formula for calculating RDO percentage RDO (7.6/4) % Page 13
20 Demonstration Handling Rostered Days Off
21 ROSTERED DAYS OFF SUMMARY Setup a Wage category for RDO taken Remember to select Automatically Adjust Base Hourly or Base Salary Details Setup an Entitlement category to track the RDO Accrual Calculation Basis must be set to Equals 5% of Gross Hours Remember the Linked Wages Category should be set to RDO Taken Accruing and Paying the RDO Weeks 1 to 3 will accrue 5.7 hours of RDO Week 4 will accrue 1.9 hours of RDO and pay 7.6 hours of RDO
22
23 HANDLING LONG SERVICE LEAVE
24 Long Service Leave overview Currently governed by state and territory laws Generally can be taken after 10 years service Paid at the employee s ordinary rate of pay Can t be cashed out Paid out, if eligible, on termination of employment Page 18
25 SETTING UP LONG SERVICE LEAVE (LSL) Hourly wage category LSL Taken Entitlement category LSL Accrual Page 18
26 LONG SERVICE LEAVE FORMULA Formula for calculating LSL percentage Long Service Leave Long Service Leave Hours Hours of Qualifying Period 100 Formula for calculating LSL percentage Long Service Leave 13 x 38 = 494 Hrs (15 x 52) x 38 = % Page 19
27 CALCULATING LSL BALANCE AT 7 YEARS Working week over 7 year period (7 years x 52 weeks) Gross hours in 7 year period (364 weeks x 38 hours) Gross hours x % (13,832 x %)
28 Demonstration Handling Long Service Leave
29 LONG SERVICE LEAVE SUMMARY Setup a Wage category for LSL Paid Remember to select Automatically Adjust Base Hourly or Base Salary Details Setup an Entitlement category to track the LSL Accrual Calculation Basis must be set to Equals % of Gross Hours Remember to select Carry Remaining Entitlement Over to Next Year Remember the Linked Wages Category should be set to LSL Taken Accruing and Paying the LSL If setting up LSL at 7 years, calculate and enter the balance accrued up to 7 years using a zero dollar paycheque When LSL is taken use the LSL Taken Wage category
30 SHOWING LEAVE ACCRUALS AS LIABILITIES
31 Leave accruals as liabilities - overview Setup liability and expense accounts for leave Link the accounts to the payroll categories Determine the accrual dollar amounts Record a general journal entry to recognise the accrued liability Update the accrued liabilities using general journal entries Page 24
32 CREATE NEW LIABILITY ACCOUNT Page 24
33 CREATE NEW EXPENSE ACCOUNT Page 25
34 Demonstration Showing Leave Accruals as Liabilities
35 Keeping the liability balance up to date 1. Check the current balance of your liability accounts 2. Display/print the Entitlement Balance [Summary] report 3. Calculate the difference between the current balance of your liability accounts and the dollar value of leave on the above report 4. Record a General Journal entry for the dollar value calculated in Step 3 Page 29
36 LEAVE ACCRUALS AS LIABILITIES SUMMARY Setup liability and expense accounts for leave in the Accounts List Number these accounts inline with other payroll liability and expenses in the Accounts List Use the Entitlement Balance [Summary] report to determine the leave dollar value and record as a General Journal entry The General Journal entry should Debit the Wages and Salaries Leave expense and Credit the Annual Leave Accrual liability Maintain and update the liability and expense account balances using a General Journal entry The General Journal entry should Debit the Wages and Salaries Leave expense and Credit the Annual Leave Accrual liability
37 HANDLING ANNUAL LEAVE LOADING
38 SETTING UP LONG SERVICE LEAVE (LSL) Wage category Annual Leave Loading Assign to employee card Page 30
39 Demonstration Handling Annual Leave Loading
40 ANNUAL LEAVE LOADING SUMMARY Setup a Wage category to pay Annual Leave Loading Create a wage category to manage the Annual Leave Loading Assign Annual Leave Loading to the employee Ensure eligible employees have Annual Leave Loading assigned to them Paying the Annual Leave Loading When paying an employee Annual Leave Loading add in the hours of Annual Leave they are taking
41 CONCLUSION Understanding entitlements Handling Time in Lieu (TIL) Handling Rostered Days Off (RDOs) Handling Long Service Leave Showing Leave Accruals as Liabilities Handling Annual Leave Loading
42
43 Find the answers you're after at myob.com.au/support or call our Customer Support team on Need more help? Need more training? Classroom training Self paced online learning Webinars Videos help.myob.com.au/showme
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