Final Pay – Pay Long Service Leave
Today I’m happy to announce that we have released a major update to our Final Pay workflow. In addition to guiding you through paying out unused Annual Leave, you can use Final Pay to pay unused Long Service Leave. With these two leave types included in a guided workflow, you will now be able to calculate the final pay for most employees leaving a business voluntarily. This update is part of our ongoing commitment to simplify and streamline the payroll process for our customers. We hope that you will find the new Final Pay workflow easy to use and helpful for complying with the relevant legislation. You can access this feature by selecting the Final Pay pay period in your payroll product.Deducting Monies in Lieu of Notice
When processing an ETP, you're usually PAYING the employee monies in lieu if they were terminated by the company, and so we assigned the Monies in Lieu of Notice payroll category to W1 in the Activity Statement fields. Under our EBA we are able to withhold monies in lieu of notice when an employee resigns without giving appropriate notice, so this is a DEDUCTION rather than a payment. We processed a termination pay recently where no notice was given and entered a negative amount against the Monies in Lieu of Notice category. When lodging the May IAS, the W1 amount calculated has not deducted the Monies in Lieu of Notice (see breakdown on the attached Payroll summary report). Do I need to create a Payroll Deduction (so it is included as a W2 withheld amount) rather than using a negative amount in the Monies in Lieu of Notice Wages category so it will be recognized by STP?
