2 Pre-Load Values - Revision history

Angelica at 00:08, 12 December 2014

2014-12-12T00:08:51Z

Simon Clive at 06:12, 29 December 2011

2011-12-29T06:12:13Z

Simon Clive at 06:10, 29 December 2011

2011-12-29T06:10:40Z

Simon Clive at 05:31, 29 December 2011

2011-12-29T05:31:17Z

Simon Clive: Created page with "PreLoad Values Has the company Payroll Information been set correctly? General This information is essential for the correct calculation of leave accruals and PAYG Tax. Standa..."

2011-06-29T23:04:36Z

Created page with "PreLoad Values Has the company Payroll Information been set correctly? General This information is essential for the correct calculation of leave accruals and PAYG Tax. Standa..."

New page

PreLoad Values

Has the company Payroll Information been set correctly?

General
This information is essential for the correct calculation of leave accruals and PAYG Tax.

Standard Hours worked per week - This figure is essential to convert hours of accrued leave to days.
Annual Leave Weeks per Year - Used to calculate leave accrual rates
Sick Leave Days Per Year Cap - This is the maximum number of sick leave days allowed to be accrued in a
single year. This figure is used to calculate accrual rates. If there is a maximum number of days that can be
accrued overall this is set in the Award
Long Service Leave Weeks per Term - Used to calculate leave accrual rates
The following preferences are rates set by the ATO and are used for termination payments only.
Leave Loading Tax Threshold
Medicare Levy Rate
Medicare Levy Surcharge Rate
Base Tax Rate for Lump Sums
Lump Sum Flat Rate for Over 55
Lump Sum E / Backpay Tax Rate
Fringe Benefits Tax Rate
No TFN Tax Rate
Threshold Limit for RBL Purposes
Lump Sum D (Basic Tax Free Potion)
(Yearly Tax Free Portion)
ETP Low Rate Threshold (per year)
Default Superannuation Rate - This is the Superannuation Guarantee Levy rate
Pay Super is Monthly Gross More Than - This is the monthly income level where the SGC cuts in. This is a
cumulative figure so if an emloyee earns for example $400 per week, the first weekly pay each month will have
no superannuation component but the difference will be made up in the second pay for the month.
Pay by Department - allows pays to be run seperately for different cost centres
Add to EFT by default - to use this option you must be registered with you bank for EFT and record your
APCA Number and bank account details in Accounts<LinkId=8>
Include Pays with $0 pay - creates a pay record and Payslip for employees who's pay is $0 for the period.
Import Tax Scales - New tax scales are made available for import as required (usually at the start of a new
financial year).

Clearing Account
Payroll Clearing Account - This must be a clearing account, not an actual Bank Account. Defaults to Payroll Bank
Clearing.

Expense Accounts - These are the costs to the company, irrelevant of payment or not. Use these accounts in
the BAS/VAT
Gross Wages - This is typically a simple header account, in that you don't post anything to this account, but
use it as a summing account of those under it
Leave Paid - This is the expense account for all leave types. Accrued leave is expensed at the time it accrues
at the pay rate current at that time. When leave is taken it is expensed to Gross Wages at the actual current
rate and the Leave Paid expense account is reduced by the original accrued amount.
Super Paid - This is the expense account for superanuation
Net Wages - This account records the actual cash paid to the employee
Deduction Paid (Default) - This is the expense account for deductions
Sundries - Any expense entered as sundries will show here
Allowance Paid (Default) - This is the expense account for Allowences
PAYG Expense - This is the tax expense as part of payroll

Liability Accounts - These are the payments that are to be paid to the various suppliers, including the tax office. DO
NOT Use these accounts in the BAS/VAT
Deductions Liability - Amounts that need to be paid for any deductions taken from the employee ie union fees etc
Leave Liability - Amounts accured for any Leave type that are to be paid to the employee when that leave type
is taken
Allowances Liability - Amounts that need to be paid for any allowences given to the employee ie travel allowence etc
Super Payable - Amounts that need to be paid to the employees super fund
PAYG Tax Payable - Amounts that need to be paid to the Tax office.

@@ Line 1: / Line 1: @@
 '''PreLoad Values'''
-Has the company Payroll Information been set correctly?
+'''Has the company Payroll Information been set correctly?'''
 This information is essential for the correct calculation of leave accruals and PAYG Tax.

@@ Line 5: / Line 5: @@
 This information is essential for the correct calculation of leave accruals and PAYG Tax.
 <u>'''General'''</u>
 '''Standard Hours worked per week''' - This figure is essential to convert hours of accrued leave to days.
@@ Line 17: / Line 17: @@
 '''Leave Loading Tax Threshold'''
 '''Medicare Levy Rate'''
 '''Medicare Levy Surcharge Rate'''
 '''Base Tax Rate for Lump Sums'''
 '''Lump Sum Flat Rate for Over 55'''
 '''Lump Sum E / Backpay Tax Rate'''
 '''Fringe Benefits Tax Rate'''
 '''No TFN Tax Rate'''
 '''Threshold Limit for RBL Purposes'''
 '''Lump Sum D (Basic Tax Free Potion)'''
 '''(Yearly Tax Free Portion)'''
 '''ETP Low Rate Threshold (per year)'''
 '''Default Superannuation Rate''' - This is the Superannuation Guarantee Levy rate
@@ Line 43: / Line 43: @@
 '''Pay Super is Monthly Gross More Than''' - This is the monthly income level where the SGC cuts in. This is a cumulative figure so if an emloyee earns for example $400 per week, the first weekly pay each month will have no superannuation component but the difference will be made up in the second pay for the month.
 '''Workers Compensation Rate''' -
 '''Pay by Department''' - allows pays to be run seperately for different cost centres
@@ Line 49: / Line 49: @@
 '''Add to EFT by default''' - to use this option you must be registered with you bank for EFT and record your APCA Number and bank account details in Accounts&lt;LinkId=8&gt;
 '''Include Pays with $0 pay''' - creates a pay record and Payslip for employees who's pay is $0 for the period.
 '''Import Tax Scales''' - New tax scales are made available for import as required (usually at the start of a new financial year).
+<br>
 <u>'''Clearing Account'''</u>
@@ Line 59: / Line 59: @@
 '''Payroll Clearing Account''' - This must be a clearing account, not an actual Bank Account. Defaults to Payroll Bank Clearing.
-<u>'''Expense Accounts'''</u>&nbsp; These are the costs to the company, irrelevant of payment or not. Use these accounts in the BAS/VAT '''Gross Wages''' - This is typically a simple header account, in that you don't post anything to this account, but use it as a summing account of those under it
+'''Gross Wages''' - This is typically a simple header account, in that you don't post anything to this account, but use it as a summing account of those under it
 '''Deduction Paid (Default)''' - This is the expense account for deductions
 '''Leave Paid''' - This is the expense account for all leave types. Accrued leave is expensed at the time it accrues at the pay rate current at that time. When leave is taken it is expensed to Gross Wages at the actual current rate and the Leave Paid expense account is reduced by the original accrued amount.
 '''Net Wages''' - This account records the actual cash paid to the employee
@@ Line 73: / Line 75: @@
 '''Super Paid''' - This is the expense account for superanuation
 '''PAYG Expense''' - This is the tax expense as part of payroll
 '''Sundries''' - Any expense entered as sundries will show here
 '''Commissions''' - Commission Paid
-−
 '''<u>Liability Accounts</u>'''&nbsp; These are the payments that are to be paid to the various suppliers, including the tax office. DO NOT Use these accounts in the BAS/VAT
 '''Deductions Liability''' - Amounts that need to be paid for any deductions taken from the employee ie union fees etc
 '''Super Payable''' - Amounts that need to be paid to the employees super fund
 '''Leave Liability''' - Amounts accured for any Leave type that are to be paid to the employee when that leave type is taken

@@ Line 1: / Line 1: @@
-PreLoad Values
+'''PreLoad Values'''
 Has the company Payroll Information been set correctly?
-General
+This information is essential for the correct calculation of leave accruals and PAYG Tax.
 This information is essential for the correct calculation of leave accruals and PAYG Tax.
 ETP Low Rate Threshold (per year)
-Clearing Account
+Default Superannuation Rate - This is the Superannuation Guarantee Levy rate
-Payroll Clearing Account - This must be a clearing account, not an actual Bank Account.  Defaults to Payroll Bank
-Clearing.
+Pay Super is Monthly Gross More Than - This is the monthly income level where the SGC cuts in. This is a cumulative figure so if an emloyee earns for example $400 per week, the first weekly pay each month will have no superannuation component but the difference will be made up in the second pay for the month.
-Expense Accounts - These are the costs to the company, irrelevant of payment or not. Use these accounts in
+Expense Accounts - These are the costs to the company, irrelevant of payment or not. Use these accounts in the BAS/VAT Gross Wages - This is typically a simple header account, in that you don't post anything to this account, but use it as a summing account of those under it Leave Paid - This is the expense account for all leave types. Accrued leave is expensed at the time it accrues at the pay rate current at that time. When leave is taken it is expensed to Gross Wages at the actual current rate and the Leave Paid expense account is reduced by the original accrued amount. Super Paid - This is the expense account for superanuation Net Wages - This account records the actual cash paid to the employee Deduction Paid (Default) - This is the expense account for deductions Sundries - Any expense entered as sundries will show here Allowance Paid (Default) - This is the expense account for Allowences PAYG Expense - This is the tax expense as part of payroll
-	the BAS/VAT
 Gross Wages - This is typically a simple header account, in that you don't post anything to this account, but
-	use it as a summing account of those under it
-Leave Paid - This is the expense account for all leave types.  Accrued leave is expensed at the time it accrues
-	at the pay rate current at that time.  When leave is taken it is expensed to Gross Wages at the actual current
-	rate and the Leave Paid expense account is reduced by the original accrued amount.
 Super Paid - This is the expense account for superanuation
 Net Wages - This account records the actual cash paid to the employee
 Deduction Paid (Default) - This is the expense account for deductions
 Sundries - Any expense entered as sundries will show here
 Allowance Paid (Default) - This is the expense account for Allowences
 PAYG Expense - This is the tax expense as part of payroll
-Liability Accounts - These are the payments that are to be paid to the various suppliers, including the tax office. DO
+Liability Accounts - These are the payments that are to be paid to the various suppliers, including the tax office. DO NOT Use these accounts in the BAS/VAT Deductions Liability - Amounts that need to be paid for any deductions taken from the employee ie union fees etc Leave Liability - Amounts accured for any Leave type that are to be paid to the employee when that leave type is taken Allowances Liability - Amounts that need to be paid for any allowences given to the employee ie travel allowence etc Super Payable - Amounts that need to be paid to the employees super fund PAYG Tax Payable - Amounts that need to be paid to the Tax office.
-	NOT Use these accounts in the BAS/VAT
 Deductions Liability - Amounts that need to be paid for any deductions taken from the employee ie union fees etc
 Leave Liability - Amounts accured for any Leave type that are to be paid to the employee when that leave type
-	is taken
 Allowances Liability - Amounts that need to be paid for any allowences given to the employee ie travel allowence etc
 Super Payable - Amounts that need to be paid to the employees super fund
 PAYG Tax Payable - Amounts that need to be paid to the Tax office.