Available for the following Payroll plans: Standard, Premium
When transitioning from another payroll provider to Employment Hero's payroll platform, you may have terminated employees that have existing Year to Date (YTD) employment termination payments (ETPs). The Opening Balances Employment Termination Payments feature allows you to select an employee file and enter their accrued YTD ETP amounts.
Helpful Hint
You will only use this feature if you need to migrate terminated employee data over to your new Employment Hero Payroll platform.
Getting started
Adding opening ETP balances
- Click the Employee menu.
- Click the List submenu.
- Click on the employee who needs ETP amounts added.
- Under Employee Settings, click the Opening Balances button.
- Click the Employment Termination Payments (ETPs) tab.
- Click the Add ETP button.
- Select the required ETP Type.
- Non-excluded Type O payment.
- Non-excluded Type P payment.
- Excluded Type R payment.
- Excluded Type S payment.
- Enter the following details:
- Pre-1983 Tax free component.
- Taxable component.
- Tax withheld.
- Payment date.
- If needed, click Generate ETP payment summary.
- Click the OK button.
- Click the Save button.
Explore related content
- Payroll Platform: Employee Pay Rates This feature allows you to add an additional earnings line to an employee's payroll employee file and specify details such as the pay category, the earnings per run, and the super rate.
- Payroll Locations This feature allows you to add a new location with the ability to specify its name, state, and general ledger code. The locations you add, and then assign to an employee, will enable you to report on the labour costs of each location.