how to process holiday loading
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Hi Lee I will expand a little on what Kevin has told you.
Firstly you need to have set up in Payroll Items a payroll item for Holiday Hourly and another for Holiday Leave Loading.
When you process the pay, Click on Holiday Hourly item code and enter the number of hours you are wanting to pay the employee. Then below where you see Other Payroll Items, Enter Holiday Loading. The program will look at the Holiday Hourly amount and calculate 17.5% on that amount. There is no super on this. It is taxed fully. You don't use Holiday Hourly item for Public Holidays nor is there Holiday Loading on Public Holidays.
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Hi Kevin Not sure if there is. Have used payroll for many moons so have never needed any notes. Carolyn or Kelly may have something.0
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Hi,
How do you set up the holiday loading payroll item to only calculate off the holiday pay? When i tried to set it up it calculated on the whole pay rather than just the annual leave?
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Hi Sian
Check the Payroll item for Holiday Loading.
It should be set as an Addition. Item is Holiday Loading, Expense account Wages/Salary or whatever you use.
Tax tracking type Gross Payments
Taxes PAYG
Calculate based on Quantity - Dot on Neither
Default rate and limit 17.50% (or whatever you are required to pay)
Inclusion Super - not ticked.
Then when you pay Holiday Pay, choose the Item Holiday hourly. Then to enter the Holiday Loading, this is entered in the area Other payroll items (under where you see super).
The Loading will only calculate on the amount for Holiday hourly. All the Gross Wages is taxed fully.
Hope this is clear enough for you to follow.
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Hi Shirley,
I have mine set up exactly as you described but it always adds on leave loading to all hours paid - not just the holiday hours. I have to remember to adjust it manually every time. What am I missing?
Jodie
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Hi Shirley, how does this work if an employee takes 10 hrs leave and the rest as normal pay as your description above puts 17.5% on all the hrs?0
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Hi Matt
The "Holiday Loading" Payroll Item is pre-created by Reckon & configured to link specifically with "Holiday Pay"-only type Payroll Items so it only calculates on these amounts & not ordinary/standard pay amounts.Shaz Hughes Dip(Fin) ACQ NSW, MICB
Reckon Accredited Professional Partner Bookkeeper / Registered BAS Agent (No: 92314 015)
Accounted 4 Bookkeeping Services
Ballajura, WA
0422 886 003
Shaz Hughes Dip(Fin) ACQ NSW, MICB
*** Reckon Accredited Partner (AP) Bookkeeper - specialising EXCLUSIVELY in Reckon Accounts / Hosted ! *** Bookkeeping & 1-on-1 customised software Training/Troubleshooting ***
* Regd BAS Agent (No: 92314 015)* ICB-Certified Bookkeeper* Snr Seasonal Tax Consultant since 2003 *
Accounted 4 Bookkeeping Services
Ballajura, WA
(NB: Please give my post a Like or mark as Accepted Answer if I have been able to resolve your query as this helps others when seeking solutions!)
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