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If you've added your employees into MYOB Essentials (where you set up the basic details of your employees, including pay rate), you're almost ready to do your first pay run. But first, complete your payroll settings.
This includes choosing the bank account you’ll be paying wages from, choosing if you'll be paying employees electronically, and some payslip display settings.
If you're in Australia, you'll also need to set up Single Touch Payroll reporting.
Open the Payroll settings page by clicking your business name.
Starting to use MYOB Essentials part way through the payroll year? Learn how to enter your pay history .
The Payroll settings page has different tabs to record your payroll info.
Let's take you through each of the settings on these tabs.
Set up the following on the Banking tab:
Bank account for paying wages
Choose the MYOB Essentials bank account you’ll be paying employee wages from. Payroll transactions (like employee wage payments) will be automatically matched to transactions on this account.
If you need to, you can create a new bank account for this purpose.
(New Zealand only)
PayAgent can help take the hassle out of NZ compliance by taking care of paying employee wages, PAYE deductions and IRD reporting. This means less paperwork and time spent on compliance, and more time put back into your business. And best of all - it's included with your MYOB Essentials subscription.
Simply click Register for PayAgent to get started. For more information, see How does PayAgent work?
Pay employees using bank files
If you're in Australia
If you want to pay any employees electronically, select the option Pay employees using bank files. You can then enter the BSB and Account Number for the bank account the wages will be paid from. Check with your bank if you need to enter a Direct Entry / APCA ID of if your need to select the Self Balancing file option.
If you won't be paying any of your employees electronically, i.e. you'll be paying cash or cheque, leave the Pay employees using bank files option deslected.
If you're in New Zealand
If you want to pay any employees electronically and you bank with ASB, ANZ, BNZ or Westpac, select the option Pay employees using bank files. You can then enter your bank details and any information you want to appear on bank statements.
If you won't be paying employees with a bank file, take a look at PayAgent, our payroll service that takes care of paying employee wages, PAYE deductions and IRD reporting.
If you'll be paying all your employees cash or cheque, leave the Pay employees using bank files option deselected.
Pay superannuation settings
|Choose the bank account you'll be paying super from. You'll use this bank account to pay super through MYOB's super portal, which is Superstream-compliant.|
When you're finished entering details on this tab, click Save settings, or continue your payroll setup by clicking the Payslips tab. See below for details.
Payslips are emailed to your employees at the end of each pay run, or at any time afterwards. You'll need to have entered an employee's email address on the Employee details tab of their employee record to be able to email their payslip.
On the Payslips tab:
Choose payslip display options
Select the Show personal leave entitlement on payslip option if you want to include accrued personal (sick) leave on employee payslips. If this option is not selected, only the annual leave and alternative holiday (New Zealand) balances will show on payslips.
Set up payslip email options
When you email payslips to your employees, the payslip is sent as a PDF document attached to an email message. You can change the text in the email message, and choose to send payslips to additional email addresses. Your employees won't be able to see that you have emailed their payslip to these other addresses, so please keep their privacy in mind.
When you do a pay run, click in the Email column to select which employees you want to email payslips to.
PAYG payment summaries
You no longer need to prepare payment summaries, so there's nothing on this tab that you need to worry about. That is unless your business still has a requirement to complete payment summaries (check with the ATO if you're not sure). If so, and your business is eligible for an exemption from fringe benefits tax as described under section 57A of the Fringe Benefits Tax Assessment Act 1986, you can select the option on this tab.
Instead of preparing payment summaries, you'll complete the End of year finalisation with Single Touch Payroll reporting. During this process you can enter reportable fringe benefits amounts (RFBA) that apply to your employees.