Holiday Leave Loading

Karina_9242901
Karina_9242901 Member Posts: 19

Is reckon able to have two types of Leave Loading 17.5%, as we'd like to have the leave loading coded individually to COGS and EXPENSES for job costing.

Comments

  • Alexander McKeown
    Alexander McKeown Reckon Staff Posts: 147 Reckon Staff

    Dear @Karina_9242901 ,

    Unfortunately, you cannot create new Leave Loading items for Annual/Holiday leave. The default items are the only ways of handling leave loading.

    To prevent Loading from occurring on every item (which is what would happen if you created a new Leave Loading item), you would need to journal these figures into COGS/Expenses depending on which account you assign the default Leave Loading to.

    Kind regards,

    Alexander McKeown

    Reckon Senior Technical Support

  • Acctd4
    Acctd4 Accredited Partner Posts: 3,314 Reckon Accounts Hosted Expert Reckon Accounts Hosted Expert
    edited February 13

    Hi @Karina_9242901

    Yes, you can 😊

    It is actually necessary to set up additional Leave Loading Payroll Items for STP2 as this needs to be classified separately when paid out on termination anyway.

    However, only the system-default one recognises annual leave, to trigger the calculation automatically. Therefore, when creating additional ones, these require a slightly different setup to the default, which has Neither selected.

    Instead, additional ones need to be setup to track by Qty or Hrs (as highlighted):

    The $ amount of annual leave (for the system to calculate the 17.5%) is then manually entered in the Quantity box on the Paycheque:

    😊

    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

    [email protected]

    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!)
  • Alexander McKeown
    Alexander McKeown Reckon Staff Posts: 147 Reckon Staff

    Excellent post @Acctd4 . Forgot about that little trick - otherwise it would calculate on all payroll items. Will make sure to update our knowledgebases for that.

    Apologies for any confusion @Karina_9242901.

    Kind regards,

    Alexander McKeown