Opening balances for employees is year to date (YTD) payment values. YTD values include Total Earnings (gross values), Total Tax, Super & PAYG earned between July 1st (financial year) and your latest paid pay run.
Step 1: Select "Employees" from the main menu.
Step 2: Select an "Employee" from the " All Employees" list.
Step 3: Select the "Balances" option from "Employees"
3.1 To update "Gross Earnings" of the Opening Balance
Step 1: Click on "Pay items" under "Balances" to update the opening balances for gross earnings during the year.
Step 2: "Select Financial Year" to the year you wish to allocate the gross earnings of the employee to.
Step 3: Select the "Earnings Name" pay item assigned to the employee such as (Casual Ordinary Hours / Permanent Ordinary Hours) under Earning Balances to update opening balances for gross earnings of the employee.
3.2 To update Opening Balances for "Tax & Super"
Step 1: Click on "Tax & Super" under "Balances" to update the opening balances for Tax Withheld and Super.
Step 2: "Select Financial Year" to the year you wish to allocate the tax and super of the employee to.
Step 3: Enter the Individual "PayG", "Medicare", "STSL Payments" amounts under Tax Withheld and "SG Super Contributions", "Salary Sacrifice Super Contributions" Employer Super Contributions" amounts under "Super".
Example: If the joining date is 15th Aug 2019, values between 1st July 2019 and 15th Aug 2019 need to be entered. If the joining date is 15th Feb 2019, then values between 1st July 2018 and 15th Feb 2019 need to be entered as Opening Balance.
Step 4: Click on "Save" to update the changes.
Note: Please check your last pay run processed in your payroll system for your YTD values either in the latest payslip or the payroll summary report.
If you have any questions or feedback, please email us at firstname.lastname@example.org.