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PAYG incorrect on ETP

Joanne_6506679

When I enter the final paycheque for an employee to show the ETP amount and PAYG - the ETP then produced shows a different PAYG amount. Total PAYG paid for the year is fine when I add the PAYG summary and the ETP together. BUt amount showing on the ETP is more than the 31.5% that it should be.

Comments

John G

Hi Joanne,

Yes, terminations that include ETP payments can be perplexing. Here is a guide to the whole process - ETP payments are in the second half.
Terminating an Employee in Accounts Business

It will explain the conditions under which PAYG and ETP tax withheld may show up as incorrect.

regards,
John

Terri Minards

this link is not valid

John G

Hi Terri,

Welcome to the Reckon Community, and thanks for the heads up on this link.

Here is the updated link:
Terminating an Employee in Accounts Business

I have updated the previous post with this new link.

regards,
John

Terri Minards

Hi John,

This doesn't help. The PAYG is incorrect in the ETP. How can I correct this?

Thanks

John G

Hi Terri,

If the total of INB + ETP taxes are correct but the split-up is incorrect, then most likely the incorrect ETP tax was applied to the final payment.

ETP tax amounts must be manually calculated, and this amount must equal the amount of tax the ETP Payment Summary will calculate. Any discrepancy between what you calculate and apply and what the ETP Payment Summary calculates, will be posted onto the INB Payment Summary.

Please ensure you have:

used the correct ETP payroll items;
the correct Date of Birth is listed in the Employee Record
The Release Date and Termination Dates are the same and correct.

Other elements you need to keep in mind are:

The Medicare Levy was added in your calculations
The Temporary Budget Repair Levy (if applicable) was added in your calculation

Hope this helps.

regards,
John.