- Created by admin, last modified by ErikV on Oct 29, 2015
You are viewing an old version of this page. View the current version.
Compare with Current View Page History
« Previous Version 3 Next »
This information applies to MYOB AccountRight version 19. For later versions, see our help centre.
https://help.myob.com/wiki/x/BYCi
ANSWER ID:9157
When Setting up leave accruals (Australia only), if you select the Equals [x] Percent of option as the calculation basis, you'll need to specify the percentage rate to calculate the correct number of entitlement hours.
To calculate this percentage, you need to know two things:
- Total annual entitlement hours (the total number of leave hours accrued per year)
- Total annual work hours (the total number of hours worked per year)
You can then use this formula to calculate the percentage rate:
(Total annual entitlement hours / total annual work hours) X 100 = %
Let's look at some examples.
Let's say an employee works 40 hours per 5-day week (8 hours a day) and they're entitled to 20 days (4 weeks) leave per year.
The entitlement percentage formula is:
(Total annual entitlement hours / total annual work hours) X 100 = %
- Total annual entitlement hours = 20 days X 8 hours a day = 160 hours
- Total annual work hours = 40 hours per week X 52 weeks = 2080 hours
- So the entitlement percentage is (160 / 2080) X 100 = 7.6923%
So if an employee is entitled to 20 days holiday leave per year, the percentage to use in their entitlement category is 7.6923%
This means that for every hour the employee works, they will accrue .076923 hours of holiday leave.
Example: 8 days personal leave entitlement
Let's say an employee works 38 hours per 5-day week (7.6 hours a day) and they're entitled to 8 days personal leave per year.
The entitlement percentage formula is:
(Total annual entitlement hours / total annual work hours) X 100 = %
- Total annual entitlement hours = 8 days X 7.6 hours a day = 60.8 hours
- Total annual work hours = 38 hours per week X 52 weeks = 1976 hours
- The entitlement percentage is (60.8 / 1976) X 100 = 3.0769 %
Example: 10 days personal leave entitlement
Let's say an employee works 40 hours per 5-day week (8 hours a day) and they're entitled to 10 days personal leave per year.
The entitlement percentage formula is:
(Total annual entitlement hours / total annual work hours) X 100 = %
- Total annual entitlement hours = 10 days X 8 hours a day = 80 hours
- Total annual work hours = 40 hours per week X 52 weeks = 2080 hours
- The entitlement percentage is (80 / 2080) X 100 = 3.8461 %