If your business uses leave accrual reporting to keep track of your leave liability, you can use PayHero's Leave Liability Report to report on current or historic leave liability.
To download the Leave Liability Report, navigate to People > Employees and select Reports > Leave Liability from the button.
When prompted, select the date you wish to run the report for and click Continue.
A PDF copy of the report will be downloaded to the default download location for your browser. Each employee and their liability at that date will be included.
The fields included in the report are all as at the date you selected. This means employee balances and rates will reflect any edits made or pays sent prior to or on the date you select.
The fields in the report include:
Annual Leave Weeks Due - The total weeks of Annual Leave due to the employee.
Average Weekly Rate - The employee's average weekly rate, calculated based on pays sent in the 52 weeks prior.
Ordinary Weekly Rate - The employee's ordinary weekly rate, calculated based on pays sent in the 4 weeks prior.
Annual Leave Owing - The total value of annual leave due. This is the number of leave weeks due multiplied by the highest of the Average Weekly Rate or Ordinary Weekly Rate.
Holiday Pay Owing - The employee's Holiday Pay, calculated as 8% of their gross earnings for the current entitlement year.
Alternative Leave Due Days - The total of Alternative Leave days due to the employee.
Alternative Leave Owing - The total value of alternative leave due. This is calculated using the employee's Average Daily Rate for the 52 weeks prior.
Total Leave Owing - The sum of Annual Leave Owing + Holiday Pay Owing + Alternative Leave Owing
If you're looking for an estimate of what an employee would be paid in a Final Pay the Leave Liability Report can be a good estimate. Keep in mind that employees will be owed an additional 8% Holiday Pay on any Annual Leave, Alternative Leave, and any other gross earnings included in their final pay.
It's also worth noting that in a Final Pay, the value of any leave taken in advance by an employee will be deducted at the actual rate at which it was paid out, while the Leave Liability Report is using the highest of the current rates as an estimate.
Comments
0 comments
Article is closed for comments.