Leave balances are not required on payslips however, an employer must provide the leave balance if asked by an employee.
It’s good practice to show the balance of annual leave on the payslip because it reduces disputes about the balance. Keep your records accurate and run your payroll on Friday for the week ended Friday so that your record of leave is accurate.
In the past, employers would process payroll on Wednesday for the week to Friday, because banks were very slow to transfer pays. Today most employers process payroll on Friday, and employees receive their pay on Saturday. Or alternatively process on Thursday for the week ended Thursday.
Another tip is to use a fortnightly pay cycle. This halves the admin resources needed to process payroll and keep an eye out for changes to STP.
Accurate payroll is vital to every business. If you struggle to process payroll or don’t have the time, look at our easy payroll service. We have lots of clients using this and they all love it! https://accountantbusiness.com.au/payroll-processing/
