Comparing total and termination amounts in the holiday pay report (New Zealand)

The Holiday Pay Report in the New Zealand version of MYOB Exo Payroll is a report used to show an Employee's Outstanding, Accrued and Advanced Holiday Pay figures. This report is broken-down into units, rates and amounts. The report cannot be printed for a specific date range and is a snapshot of the Holiday Pay Balances at the time of printing the report. The Holiday Pay report is located under the Financial Tab in Print Reports.

In this Report there are 5 sections - Outstanding, Accrued, Advance, Total & Termination Amount: 

• Outstanding – shows the current Days/Hours that the employee is entitled to, the rate that this will be currently paid at and the total amount this would calculate to if paid out.
• Accrued – shows the current Days/Hours that the employee has accrued in the current Holiday Year, the rate that this will be currently paid at and the total amount this would calculate to.
• Advanced – shows the Days/Hours that has already been paid out against the current Holiday Year Accrued and the amount that was paid.
• Total – shows the current total of Days/Hours that the Employee has and the amount that would be paid out if they took all of this leave currently. This is calculated from the Outstanding + Accrued Balance, minus anything already paid out as Advanced Leave.

• Termination Amount – calculates differently to the Total column. This amount is calculated from the current Days/Hours from the Outstanding Leave paid at the Holiday Pay Rate, however the Accrued Leave isn't paid out at the current owing Days/Hours. The system looks at the Gross Earnings since the Holiday Pay Anniversary Date & calculates 8% of this figure. The Outstanding Leave that is paid at the Holiday Pay Rate also has 8% calculated on top. Advanced leave will then be deducted from this balance at the rate that has already been paid out.

  

  If there is an open Current Pay when the report is printed then the figures in the Pay will add to the Termination Amount calculations.

  Termination calculation example:

  • Employee: Judy May Watson
  • Outstanding Leave: 10 x 136 = 1360.00 + 8% Holiday Pay (108.80) = $1468.80
  • Accrued Leave: 8% Holiday Pay of Current Holiday Pay Year Gross ($2720.00) = $217.60
  • Advanced Leave: 0.00
  • Total: $1686.40

Need more help? You can open the online help by pressing F1 on your keyboard while in your software.

You can also find more help resources on the MYOB Exo Employer Services Education Centre for Australia or New Zealand.