When transitioning from another payroll provider to Employment Hero's payroll platform, you may have employees that have existing Year to Date (YTD) earning amounts. It is important to transfer these earning amounts over to make sure your employees have the correct financial records.
The Opening Balances Earnings feature allows you to select an employee file and enter their accrued YTD earning amounts. You can also use this feature to clear the opening balances if you entered the wrong YTD figures into their employee file.
Important
Earnings are the year-to-date gross values for the financial year specified. We will allocate earnings to the employee's primary location (set via the employee's Pay Run defaults page) at the time you enter the data into the platform.
Availability
| Payroll Plan: | Essentials | Standard | Premium |
Getting started
The below premise will walk you through how to add your employee opening earnings balances.
- Click the Employee menu.
- Click the List submenu.
- Click on the employee who needs earning amounts added.
- Click the Opening Balances button.
- Click the Earnings tab.
- Enter the required earnings figures.
- Click the Save button.
Daily activities
The below premise will walk you through how to clear your employee opening earnings balances.
- Click the Employee menu.
- Click the List submenu.
- Click on the employee who needs earning amounts cleared.
- Click the Opening Balances button.
- Click the Earnings 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 file and enter their accrued Year to Date (YTD) leave balances.
- Payroll platform opening balances: Employee deductions This feature allows you to select an employee file and enter their existing Year to Date (YTD) deduction amounts.
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