Processing a termination payment (New Zealand)
When an employee is made redundant or resigns, they are to be paid out any Holiday Leave that they are owed. This is usually comprised of any Outstanding Leave still owing to them as well 8% of their Current Holiday Year gross earnings liable for Holiday Pay, less any advanced leave.
The Termination Holiday Pay Wizard is used to calculate the termination Holiday pay and provide a breakdown of the payout for Holiday Pay that the employee will be receiving. The Wizard displays the Holiday Pay that is being paid out as well as showing the calculation of that leave payout.
Be aware that when processing the termination pay in a One Off Pay, the employee being terminated may potentially be in an open Current Pay.
To check this, go to the Current Pay and if it is open then search for that employee. If they are in the Current Pay with any earnings being paid to them, confirm the period this pay is for. If the Current Pay is for the previous pay period that the employee should be paid for then update the Current Pay then go through the termination pay again to update the termination figures. If the Current Pay is for the current pay period then clear these earnings by clicking on the Reset button then selecting "Clear this employee's Current Pay".
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.