PAYG incorrect on ETP

Joanne_6506679
Joanne_6506679 Member Posts: 1
edited September 2017 in Reckon Accounts (Desktop)
When I enter the final paycheque for an employee to show the ETP amount and PAYG - the ETP then produced shows a different PAYG amount.  Total PAYG paid for the year is fine when I add the PAYG summary and the ETP together.  BUt amount showing on the ETP is more than the 31.5% that it should be.

Comments

  • John G
    John G Reckon Staff Posts: 1,570 Reckon Staff
    edited February 2017
    Hi Joanne,

    Yes, terminations that include ETP payments can be perplexing.  Here is a guide to the whole process - ETP payments are in the second half.
    Terminating an Employee in Accounts Business

    It will explain the conditions under which  PAYG and ETP tax withheld may show up as incorrect.

    regards,
    John
  • Terri Minards
    Terri Minards Member Posts: 2
    edited June 2015
    this link is not valid
  • John G
    John G Reckon Staff Posts: 1,570 Reckon Staff
    edited February 2017
    Hi Terri,

    Welcome to the Reckon Community, and thanks for the heads up on this link.

    Here is the updated link:
    Terminating an Employee in Accounts Business

    I have updated the previous post with this new link.


    regards,
    John

  • Terri Minards
    Terri Minards Member Posts: 2
    edited June 2015
    Hi John,

    This doesn't help. The PAYG is incorrect in the ETP. How can I correct this?

    Thanks
  • John G
    John G Reckon Staff Posts: 1,570 Reckon Staff
    edited February 2017
    Hi Terri,

    If the total of  INB + ETP taxes are correct but the split-up is incorrect, then most likely the incorrect ETP tax was applied to the final payment.

    ETP tax amounts must be manually calculated, and this amount must equal the amount of tax the ETP Payment Summary will calculate.  Any discrepancy between what you calculate and apply and what the ETP Payment Summary calculates, will be posted onto the INB Payment Summary.

    Please ensure you have:
    1. used the correct ETP payroll items;
    2. the correct Date of Birth is listed in the Employee Record
    3. The Release Date and Termination Dates are the same and correct.
    Other elements you need to keep in mind are: 
    1. The Medicare Levy was added in your calculations
    2. The Temporary Budget Repair Levy (if applicable) was added in your calculation
    Hope this helps.

    regards,
    John.