Salary inclusive of super

Kevin
Kevin Member Posts: 14

Hi,

I have an employee who has a salary package inclusive of super.

They are being paid on the 1st of July, however, I need to process the payroll before this date so the payment will be to them on the 1st.

If I adjust their rate through the raises and promotions tab, with the effective date being 01 July 2022, will this take effect as soon as I press apply?

Meaning, will it "reduce" their rate for items such as the payroll leave liability report and thus effect their leave balance as at 30 June 2022



Thanks,

Comments

  • Acctd4
    Acctd4 Accredited Partner Posts: 1,917 Reckon Accounts Hosted Expert Reckon Accounts Hosted Expert

    It will affect monetary amounts based on the Paycheque date & leave based on the pay period.

    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

    0422 886 003

    [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!)
  • Kevin
    Kevin Member Posts: 14

    Understood, but when I enter in the new pay amount, will that automatically be reflected in the Leave Liability Report for end of year annual leave balances?

    This employee would have a lower hr rate for FY2023 based on the increase of Super Rate to 10.5%

    So would the Leave Liability be lowered even if I indicate that the effective date is the 1st July?

  • Acctd4
    Acctd4 Accredited Partner Posts: 1,917 Reckon Accounts Hosted Expert Reckon Accounts Hosted Expert

    The Leave Liability report is in real time & unable to be date-configured so it will reflect here on the day you generate it with whatever is in the employee's record.

    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

    0422 886 003

    [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!)