Long service leave payout

Michelle_10097247
Michelle_10097247 Member Posts: 11 Novice Member Novice Member
in Reckon Accounts (Desktop)

How do I classify a long service leave payout for a casual employee? We have sold our business and therefore have had to terminate a long term casual employee who has accrued unused long service leave. I am not sure how to correctly process this for STP.

Comments

  • Acctd4
    Acctd4 Accredited Partner Posts: 3,702 Reckon Accounts Hosted Elite Expert Reckon Accounts Hosted Expert
    edited July 2022

    Hi Michelle

    Unused LSL requires a new Payroll Item (preferably Wage > Hourly) to be set up, mapped to a Lump Sum payment. Generally, it will be Lump Sum A (for LSL accrued since Aug 1978) If accrued prior to this, it will be Lump Sum B. Note: no Super is applicable ☺️

    Shaz Hughes Dip(Fin) ACQ NSW, MICB

    *** Reckon Accredited Partner (AP) Bookkeeper - specialising EXCLUSIVELY in Reckon Accounts / Hosted ! ***

    * Regd BAS Agent (No: 92314 015)* ICB-Certified Bookkeeper* Snr Seasonal Tax Consultant since 2003 *

    Accounted 4 Bookkeeping Services

    Ballajura, WA

    shaz@accounted4.com.au

    https://accounted4.com.au

    (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!)
  • Michelle_10097247
    Michelle_10097247 Member Posts: 11 Novice Member Novice Member

    Thanks Shaz, I think I have it sorted.

  • Acctd4
    Acctd4 Accredited Partner Posts: 3,702 Reckon Accounts Hosted Elite Expert Reckon Accounts Hosted Expert

    Good to hear Michelle 😊

    Shaz Hughes Dip(Fin) ACQ NSW, MICB

    *** Reckon Accredited Partner (AP) Bookkeeper - specialising EXCLUSIVELY in Reckon Accounts / Hosted ! ***

    * Regd BAS Agent (No: 92314 015)* ICB-Certified Bookkeeper* Snr Seasonal Tax Consultant since 2003 *

    Accounted 4 Bookkeeping Services

    Ballajura, WA

    shaz@accounted4.com.au

    https://accounted4.com.au

    (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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