Overview
When transitioning from another payroll provider to Employment Hero's payroll platform, you may have employees that have existing Year to Date (YTD) deductions. It is important to transfer these deduction balances over to make sure your employees have the correct financial records.
The Opening Balances Deductions feature allows you to select an employee file and enter their existing YTD deduction amounts. You can also use this feature to clear the opening balances if you entered the wrong YTD figures into their employee file. To read further information on Opening Balances please see our Hero Academy training video here.
You will need to have your deduction categories setup before you can use this feature. To read further information on how to set up deduction categories, refer to the following article.
Availability
| Payroll Plan: | Standard | Premium |
Getting started
The below premise will run you through how to add your opening deduction balances.
- Click the Employee menu.
- Click the List submenu.
- Click on the employee who needs deductions added.
- Click the Opening Balances button.
- Click the Deductions tab.
- Enter the required deduction figures.
- Click the Save button.
Maintain
The below premise will run you through how to clear your opening deduction balances.
- Click the Employee menu.
- Click the List submenu.
- Click on the employee who needs deductions cleared.
- Click the Opening Balances button.
- Click the Deductions tab.
- Click the Clear button.
- Click the Save button.
Author recommended
So you are now up to date and you are now wondering what next can I do. There are two recommendations I would make on this front and they are:
- Payroll platform opening balances: Employee leave balances This feature allows you to select an employee and enter their accrued Year to Date (YTD) leave balances.
- Payroll platform opening balances: Employee earnings This feature allows you to select an employee file and enter their existing Year to Date (YTD) earning amounts.
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