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What is PayAgent?
MYOB PayAgent is a service that helps take the hassle out of compliance. Once you're registered for PayAgent, MYOB takes care of paying wages, PAYE deductions and IRD reporting. This means less paperwork and time spent on compliance, and more time put back into your business.
How does PayAgent work?
It's easy! First, you'll complete run your pay runs as normal. When they're done, you'll authorise MYOB to process pay and deduct wages and tax. MYOB debits the gross pay from your account and credits your employees with their net page.
PAYE and deductions (e.g., employee KiwiSaver, employer KiwiSaver, ESCT, child support and student loans) will be automatically paid to the IRD by the 20th of each month.
This means MYOB is acting as the intermediary for you (the employer) and takes the responsibility of making these payments on your behalf.
Signing up for PayAgent
If you have a New Zealand Essentials business, you can sign up for PayAgent from the Pay centre (Payroll > Enter pay). Click the Get started button on the banner to begin your online registration.
Don't see the banner? Give us a call on 0800 606 962 and ask for the PayAgent team, or email PayAgent@myob.com, and we'll get the banner turned on for your Essentials business.
After clicking the banner button, you'll be taken through a short online application process which will ask for your business and banking details.
Continue below for information on Post-registration tasks, including emailing supporting documents like a bank statement and a copy of your drivers license.
After completing the online application process, you'll receive an email detailing your next steps and ask you to fill out and email back some additional documents, including a bank statement and a copy of each directors' drivers license, to PayAgent@myob.com. Please do this as soon as possible.
Why do I have to provide my driver's license and bank statement?
Because PayAgent is a financial service that involves the movement of money, MYOB is required by law to complete a risk assessment of each business. The drivers licenses help us complete credit checks of each director, and the bank statement helps us check the validity of the bank account details provided in your online application.
Once we've receive all your supporting documents, PayAgent will be activated for your business from the 1st of the following month. For example, if you apply on the 20th of March and are approved, PayAgent will be ready to go on the 1st of April.
If your application is successful, you'll receive a PayAgent activation confirmation. Nice work! PayAgent will be ready to use from the 1st of the following month.
Paying your employees with PayAgent
You still complete your pay run in MYOB Essentials as usual.
When you finalise the pay run, PayAgent takes care of the rest, including:
- automatically debiting the gross pay from your bank account and crediting your employees with their net pay,
- PAYE, Kiwisaver and child support contributions will be automatically paid to Inland Revenue by the 20th of the month
- and your Employer Schedule (ir-File) will be automatically filed by the 20th of the month for you.
Note that you must finalise your pay run by 4pm to be processed by PayAgent that same day. Any pay runs finalised after 4pm will be processed the following business day.
For more information on PayAgent, such as processing pay runs on public holidays or changing pay run frequency, see the FAQ below.
Pay run FAQs
How do I correct a mistake in my pay run?
If you make a mistake in your pay run, you will need to contact our support team on 0800 606 962 as soon as possible. We will help fix the issue and ensure that your pay runs are processed correctly.
Can I change the frequency I do my pay runs?
If you are changing your pay run frequency (e.g., if you are paying weekly, but changing to paying fortnightly), please send an email to PayAgent@myob.com and let us know what frequency you will be changing to.
Note that you can change the days you process you payroll with no issues.
Can I future date a pay run?
The Pay on date in Essentials cannot be used to future date a payment. If a payment is entered before the 4pm cut off time, we will process the pays on the day the pay run is received.
What happens if a pay run is processed on a public holiday?
National New Zealand public holidays are bank holidays; therefore, if a pay run is processed on a national public holiday, it will be run on the next business day. If you still require your employees to receive their pay on a public holiday, please process the pay before 4 pm on the prior business day.
What does the Pay On date mean?
The Pay On date entered when recording your payroll will determine the reporting period that will be sent to the IRD and not when the payment will be paid.
What happens to my IRD payment if I don't have any employees to pay that month?
If you haven't paid any wages for that month, you will need to email us at PayAgent@myob.com and let us know. We will then process a zero dollar lodgement for the IRD and no fines will be incurred.
How is the direct debit calculated?
The PayAgent payments are calculated as Gross + Employer Kiwi Saver + ESCT. (Note that the Gross is made up of PAYE + Deductions + take home pay paid to employees)
Employee Kiwisaver is included in deductions, but listed separately on the Summary.
The tax payable to the IRD is made up of PAYE + Deductions (includes employee Kiwisaver) + Employer KiwiSaver + ESCT.
General PayAgent FAQs
How do I change my bank account?
If you want to change the bank account we direct debit from, contact us at PayAgent@myob.com and we'll email you a Change of account form. Note that we do require a director's signature to change the account.
You'll need to fill out the form with the new account number, sign it, and email it back to us with a copy of a bank document so we can verify the bank account. Once we have this, your account will be changed over.
Some of my registration information was incorrect, or I need to update it. How can I do this?
To change or update your PayAgent registration information (e.g., bank details, business details, owner details), contact our Payroll team on 0800 606 962.