LSL changes

Sarah Johnston
Sarah Johnston Member Posts: 33
edited September 2019 in Accounts Hosted

HI,  With the LSL changes coming into effect on the 1st November 2018, you will now be able to take LSL at half pay.  Can you please advise if there will be an update for QB for this?  Thanks Sarah

Comments

  • Sarah Johnston
    Sarah Johnston Member Posts: 33
    edited September 2019

    Thanks Kevin, depends on what?  Because this is new legislation I would have thought that Reckon would do an update to keep up with the change?  Thanks Sarah
  • Sarah Johnston
    Sarah Johnston Member Posts: 33
    edited August 2019

    HI Kevin, Yeh we don't either :) 

    LOL thought you might have something up your sleeve you were going to tell me.

  • Sarah Johnston
    Sarah Johnston Member Posts: 33
    edited October 2018

    Thanks Kevin, appreciate your time.
  • Acctd4
    Acctd4 Accredited Partner Posts: 3,366 Reckon Accounts Hosted Expert Reckon Accounts Hosted Expert
    edited October 2018
    Hi Sarah

    I do choose to track LSL in RA. 

    In WA, the standard LSL accrual works out to be 0.01667 hours per hour worked. 
    Of course the entitlement to TAKE this LSL doesn't kick in until the minimum service years have been worked but I have it set to accrue by default anyway for convenience.  If the employee leaves before that, it is just adjusted out in RA.
    You can still choose to edit the rate when paying LSL so that's not an issue.

    NB Obviously, the accrual calculation is dependant on any applicable award/agreement or in absence of that, your relevant State's LSL entitlement.

    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 *

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    shaz@accounted4.com.au

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    (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!)