How do I record my first pay transaction using MYOB Payroll? So, it’s payday and you’re armed with a list of employees, pay rates and details of hours worked. Here’s how it all works: - Choose whether to want to process all employee pays at once or record a pay for one employee only. (Usually, you’re best to process all pays as a single batch.)
- Select the Pay Frequency to Process (Weekly, Fortnightly, Monthly, etc.)
- Enter the Pay Period Start and End dates and click Next.
- In the Select & Edit Employee’s Pay window, you see a summary of all the employees in this pay run, along with their Payment Method and Net Pay. If any employees have variations to their standard pay for this period (for example, holiday or sick leave, overtime or reimbursements), zoom in on their pay and make the necessary changes. When you’re sure all pays look ready to go (check the next question if you’re not sure!), click Record and then OK.
The Process Payments window offers three choices: if you pay any employees by cheque and use pre-printed cheque stationery, click Print Paycheques; if you pay any employees electronically, click Prepare Electronic Payments; if you draw a single cash cheque once a week to pay one or more employees, click Spend Money. When you’re done, click Next. You’re almost there. Click Display Payroll Advice to view and print payslips for all employees and then select Finish. Classic mistake
When keying fractions of hours into employee pays, be aware that MYOB software converts hours to decimal fractions, not minutes. For example, if an employee works 8 hrs 15 minutes, this actually means the employee worked eight and a quarter hours. You should key this in as 8.25 hours, not 8.15 hours!
The contents from this page are taken from Making the Most of MYOB Payroll, 2nd edition, by Veechi Curtis, available online for only $19.95 << Back to MYOB Payroll page |
