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Definition
Wages under Pay Items is set to include all monies paid to an employee for labour or services rendered on an hourly or salary basis. The following table is the default Pay Item Wage List set by Q6.
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Wages Name
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Wage Type
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Default Pay Rate
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PAYG Taxable
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Annual Leave Pay
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Hourly
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1.00
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YES
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Annual Leave Loading
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Hourly
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0.175
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YES
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Base Hourly
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Hourly
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1.00
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YES
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Bonus
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Salary
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YES
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Personal Leave Pay
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Hourly
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1.00
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YES
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CDEP Payments
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Hourly
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1.00
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YES
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Commission
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Salary
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YES
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Long Service Leave
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Hourly
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1.00
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YES
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Overtime (1.5x)
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Hourly
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1.50
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YES
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Overtime (2.0x)
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Hourly
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2.00
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YES
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Create Wage Pay Item
1.Go to Settings > Pay Item List;
2.Click Add New;
3.Fill the required information;
4.Save.
Wages Pay Item Fields Explained
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1.Wages Name: This is a mandatory field, which cannot be left blank. User may assign a unique name describing what this Pay Item about.
2.Wages Expense Account: Default account for Pay Item Wages is Ex-7060 Wages & Salaries Expenses. User is only allowed to select an Expense Account in this field, even though you have access to the full Account List by clicking the little button on the right.
3.ATO STP Reporting Category: This Category setting is required by the ATO's Single Touch Payroll (STP) process. Any Pay Item required to be included in the STP report to ATO should select one of the categories from this section. And also any item user may not wish to be included in the STP report should not be selected in the ATO STP Reporting Category.
4.Pay Rate & Fixed Hourly Rate of: User may choose their own multiplier towards the Regular Hourly Rate or set a Fixed Hourly Rate. Only positive numbers with maximum 4 decimal places could be accepted.
5.PAYG Taxable is ticked by default, which means this Pay Item will be involved with tax calculation.
6.Save: Once it has been saved, the Pay Item would be included in the Pay Item List.
7.Exit: Once user clicks Exit, the screen will take you back to the Pay Item list.
8.Base Hourly & Gross Wage are basic Pay Items, which are not allowed to be edited or deleted.
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